Found a few things for you folks- these are the new shares out there since Jan 8th bringing the O/S up to the 280's.
As of January 8, 2015, we had issued and outstanding a total of 22,148,045 warrants to purchase our common stock outstanding at a weighted-average price of $0.23.
We have 501,000,000 shares of capital stock authorized under our certificate of incorporation, consisting of 500,000,000 shares of common stock and 1,000,000 shares of preferred stock. As of January 8, 2015, we had 279,475,332 shares of common stock outstanding. As of January 8, 2015, we have authorized: (i) 2,000 shares of Series A Convertible Preferred Stock, par value $0.001, (ii) 4,000 shares of Series B 4% Convertible Preferred Stock, par value $0.001, (iii) 1,175 shares of our Series C 8% Convertible Preferred Stock, par value $0.001 and (iv) 1,180 shares of our Series D Convertible Preferred Stock, par value $0.001, all of which have been converted or cancelled and none of which remain outstanding.
So then they registered the 85mm shares but as ohhritchie says it behooves them to have their stock price at a higher level for the equity line so they would not have to issue as many shares. They computed the 85mm at around .0179 but the higher the stock price the less shares they would issue to Southridge.
With the new registration it puts the O/S at -Upon the completion of this offering, we will have 365,475,332 shares of common stock outstanding
The question is how much and how soon will they need to tap into this line of equity, Quarterly should tell us if anything is new.
GLTA
