PositiveID Corporation (fka PSID)

[Pisd]

418,417,201 issued and outstanding as of record date

1,248,301,253 reserve against current convertibles

"...Due to our current financial position, it is imperative that we complete one or more additional financings, however, at the current time we do not have a sufficient number of authorized shares to permit us to conduct this offering or any similar offering...Any shares we may issue will likely vary based on our stock price. If our stock price continues to decline, the dilution to our existing stockholders will become significantly larger..."

3,895,000,000 new authorized common, or 93% dilution imminent against current 418M outstanding and the plan outlined in the filing is to seek new financing up to nearly double the authorized, or another way to look at it is your 418M is at present maxed out against 1.97B authorized, wow.

Stockholders should recognize that, as a result of this proposal, they will own a smaller percentage of shares relative to the total authorized shares of the Company than they presently own.

HELLO??