bit of reading...between the lines, page-19

'Yeah it is l3xm4rk. So what's your point mate? if you have 3 billion shares on issue with a SP of 3c, your MC is $90 million right? If you have 1 billion shares on issue with a SP of 9c, your MC is $90 million right?'

that is the exact point pessha, you just don't seem to understand how it relates directly to the SP of a company.

using you example, if ESI had a billion shares/ops on issue, instead of 3 billion (fully diluted), the ESI SP would be 6c instead of 2c for the same MC.

would you prefer your ESI shares to be trading at 6c or 2c?

in comparison if MNM gets rated to a $90 million MC like ESI was a few weeks ago (which it will on confirmation of the BM project) then its shares will be trading at 30c because there are only 300 million of them (fully diluted).

this is why investing in a stock with a tight register beats the hell out of investing in a company with enough shares to give one each to half the world's population.