BioNitrogen Holdings Corp. (BIONQ)

[AirCorps]

We'll break 400mm shares by February at the latest. And I project 475mm shares by Q2 2015.

Guys.. the question is less about whether BION can pull this off because it's looking more and more like it will happen. The question is how much reward will be left with so much dilution after taking so much risk on your capital? not to mention time.

Nothing will make me happier than to be proven wrong.

If you think I'm talking out of my ass here's what Adam Friedman had to say about share dilution.

My Question:

Adam hello there,
A couple of the guys who post on iHub are having a discussion on how new BION shares are entering the market. One person is saying new shares added to the o/s share count can't be added without shareholder approval, yet since September 30th, 2013 there has been an increase of 116mm shares. What kind of forces are accounting for these new shares? Who at the company is authorizing the new shares? Would love to find out so we can clear these things up and stop talking past each other. Also, any speculative date for a conference call? Thank you.

Adam:

The Company issued convertible debentures during 2012 and 2013 for cash. Those debentures have been converted into shares, hence the share count increase. During 2014, the company has issued common shares for cash to fund operations and engineering, further increasing the share count. Those shares are subject to standard restrictions for new issues of public companies. The Company has the right and authority to issue shares for consideration under public company rules without a shareholder vote, subject to public company rules. There is no change in control. Shares are being sold to third party investors under market terms.

So again, contrary to what some members have been saying. New shares are entering market all the time.