"..The CFO of the company, Ron Robinson, makes $6,000 per month and the CTO, Dr. Hakki Refai, receives a salary of $12,000 per month.."
Just 2 people taking out $18k per month salary,who knows how much all combined.
Add to it lease of $11k and ongoing toxic financing:
"Subsequent to June 30, 2014, Golden State converted $1,500 of the 4.75% convertible debenture into 25,369,615 shares of common stock at $0.00006 per share and exercised 429 warrants at $381.50 per share for $163,500, advanced $115,620 and applied $47,880 of warrant exercise advances leaving $1 in warrant exercise advances under the terms of the securities purchase agreements.
Subsequent to June 30, 2014, JMJ converted $15,435 of the convertible promissory note into 3,500,000 shares of common stock at $0.00441 under the terms of the securities purchase agreements.
Subsequent to June 30, 2014, shares of common stock totaling 3,600,000 were issued for legal services for which the Company recognized $18,000 of expense."
VNDM,VFIN,BKRT - living rent free on the ask of Level 2 constantly.
Well,that's answered the question regarding dilution.Shareholders paying for their salary,and even after if grant received,it will continue.
This going to 0.0005-0.001 before a small bounce.
Until they show that they are willing to do something good for shareholders,like decrease authorized shares and a debt - this is done.
Probably somebody will throw them a bone in for of the grants of $100-300k,but do you really want to wait for it:?)
imho
"Never argue with a fool - they will drag you down to their level, then beat you with experience."
