800 million more shares being registered so they can be dumped on retail.
Between the Rockwell settlement shares, the 3 toxic notes issued this quarter, the 500 million shares being registered for "other shareholders" to sell and the 300 million to be put to Crownbridge, this puppy is being heavily diluted. The O/S now stands at 1.5 BILLION.
Even worse, as the price falls, Crownbridge's buyin price falls. It's already at $.0048/share for any shares put to them today.
And the money provided under the Crownbridge agreement - $3 million in total, subject to dollar volume limits, is minuscule compared to the cost of building a refinery.