Wowio Inc. (WWIO)

[davidsson10]

"As is often the case in Pennyland, the reason for all the share printing is toxic debt. The Subsequent Events section of the 10-K tells us that between December 31, 2014 and April 10, 2015, WWIO converted $177,901 worth of convertible notes into 339,596,577 shares of common stock. In other words, 87% of the O/S count was issued at a rate of just $0.0005 per share. With that in mind, WWIO might have some seriously hard time getting out of the mud.

"And if you think that the dilution is now over, we would suggest that you consider one more thing. We don't know how much toxic debt is waiting to be converted into stock at the moment, but we do know that at the end of last month, WWIO's management team raised the number of authorized shares to 4 billion. So, there's no shortage of room for more exuberant share printing."