C'mon...cash flow positive - are you serious? They have been touting that for years, staving off Insolvency by issung new shares for cashflow funding.
The latest funding came at a cost to shareholders of around .055 (thats just over half a cent) per share when you take into account the FREE attached options they had to give away to entice the funding.
Sure, if they are in the money it costs only $100k for the astute investor to convert into FPO's. Bit of a gamble, but if it pays off, well done to them I suppose.
When the board starts to accept shares(without free attaching options) in lieu of their own salary/board payments to help with company cash flow (just like they are doing for current contractors/staff) then I guess that could highlight some confidence.
Until then, someones getting fleeced and it's not the board. Diluted to hell and it's a very long road back from centville, even further from pointcentville...
ESN Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
