Read the subsequent events, they are converting convertibles every month.
For the months of January, February, March 2014, they converted an aggregate of $102,930 of the over $9 million in convertibles.
However, during the same months, they sold additional convertibles for an aggregate amount of $115,000.
Therefore, the dilution is expanding as the stock is depressed by the selling, and the debt continues to increase during the conversions.
On February 22, 2013, the Company issued 857,143 shares of its common stock to settle accounts payable of $77,143 to Portspot Consultants Limited ("Portspot").
On April 1, 2013, the Company issued 400,000 shares of common stock valued at $26,600, based on the stock price of grant date, to its directors for services provided.
On April 4, 2013, the Company issued 1,128,827 shares of its common stock to settle accounts payable of $80,000 to Pancar Capital LLC.
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On April 4, 2013, the Company issued 423,310 shares of its common stock to settle accounts payable of $30,000 to Portspot.
On April 16, 2013, the Company issued 150,000 shares of its common stock valued at $24,000, based on the stock price of service completion date of September 30, 2013, to Ludlow for consulting services.
On April 16, 2013, the Company issued 150,000 shares of its common stock valued at $24,000, based on the stock price of service completion date of September 30, 2013, to South Street for consulting services.
On April 24, 2013, the Company issued 3,650,700 shares of its common stock to settle accounts payable of $200,000 to Anthony Brian Goodman, the Company's Chief Executive Officer.
On May 20, 2013, the Company agreed to settle payable of $60,000 to Pancar Capital LLC by issuing 833,333 shares of common stock. The stock was issued on December 20, 2013.
On May 30, 2013, the Company issued 20,000 shares of its common stock valued at $600, based on the stock price of service completion date of December 1, 2012, to Ludlow for earlier consulting services provided.
On May 30, 2013, the Company issued 60,000 shares of its common stock valued at $33,000, based on the stock price of grant date of July 12, 2012, to its directors for earlier services provided.
On May 30, 2013, the Company issued 200,000 shares of its common stock valued at $20,000, based on the stock price of grant date of April 23, 2013, to David Price for services provided.
On May 30, 2013, the Company issued 175,000 shares of its common stock valued at $31,500, based on the stock price of issuance date, to JSJ for consulting services provided.
On November 26, 2013, the Company issued 400,000 shares of common stock valued at $16,800, based on the stock price of grant date, to its directors for services provided.
On November 26, 2013, the Company issued 200,000 shares of its common stock valued at $8,400, based on the stock price of grant, to David Price for services provided.
On November 26, 2013, the Company issued 500,000 shares of its common stock valued at $21,000, based on the stock price of grant, to Weiting Feng for services provided.
On November 26, 2013, the Company issued 500,000 shares of its common stock valued at $15,000, based on the stock price of December 31, 2013, to Ludlow for consulting agreement dated October 4, 2013.
You do not think Melissa Diaz and Tom Bustamonte have been selling their shares while they are claiming a $0.40 stock price?
How about all these others issued shares for services? You think they are holding? These are all available now under Rule 144.
