I have posted this elsewhere but think it is pertinent here as well.
Still no 10-K......but they have now filed a proxy statement to increase the authorized share count from 150 MILLION to 250 MILLION !!! When Doug took over, the outstanding share count was at 65 million. Less than 4 years later, he has doubled that figure. As he (claims) positive cash flow is only months away out of one side of his mouth, the other side of his mouth is asking the shareholders for 100 MILLION additional authorized shares. 100 MILLION additional shares that, once authorized, he will have complete discretion over. And he can`t even get the annual report filed on time. A two week extension has come and gone and we are still waiting. Think I`ll stay here on the fence until I see him actually deliver something besides continued debt and ATM charges.
Thin
