Allied American Steel Corp. (fka AAST)

[retiredanalyst]

Has anyone bothered to read the latest 10-Q? According to the most recent November filing, the company still has no revenues at all. And now losses are really starting to pile up. For example last year, for the first 9 months ending September 30th, 2010, the company had net losses of $22,382. However this year for the first 9 months ending September 30th, 2011, the company now has losses of $798,793. After looking over the company's financials it's apparent to me that the company will need to issue more equity to raise additional working capital. This means without a doubt, dilution for current equity holders.