TheDirectory.com Inc (SEEK)

[Carini]

SEEK O/S: 82.5 MILLION MORE SHARES THIS WEEK

It should come as no surprise that, upon calling the TA yesterday, I learned that SG has issued another 82,500,000 shares in the past week or so, for a grand total of... wait for it...

4,847,615,721 shares issued and outstanding.

Tell me, if Q3 is going to be so good, and if SG has private investors supposedly putting $400k into his company, then why does he continue to issue stock like it's made of, well, free paper?

Just to recap:

On September 1 2013, SEEK had 2,847,521,297 shares outstanding.

On October 13, 2014, SEEK has 4,847,615,721shares outstanding.

That means that in a little over a year, SG has issued 2,000,094,424 shares of stock in a supposedly "profitable" company that is experiencing record growth, and much of that was AFTER he ran the national TV ads.

Hmmmmm...