Sunday, March 15, 2015 6:54:36 PM
Preferred stock is being continually issued, with officers exchanging their common for the new preferred, so that common can be issued to service providers (although I believe Mr. Henthorn emailed a poster much earlier in 2014 that this form of paying for services was not expected to continue).
10.5M common shares were issued in the first nine months of 2014, and 950K more shares in the first 45 days of Q4. This comes on top of 19.7M shares issued for professional services in Q4 2013 alone (I believe this was for the $1.7M in advertising announced in an October 1, 2013 press release which has somehow no longer available on the BCCI website; reference to it can be found in Q4 13 postings).
The fact that there are significantly more shares of preferred stock outstanding, then room left in the authorized common stock, is worth contemplating for those who believe there will be no further dilution.
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