RFB - You Are Right
This post is regarding share structure
and it is not - "Off Topic"
I took off the blinders and did a little DD analysis. Since only June 31, the high volume days (over 2M) have totaled about 240M shares. I conservatively figure they have diluted about 15% of that through their ATM (At The Market dilution plan), initiated back in March 2016. That is about 36M common shares diluted to the OS and Float so far in just the past 4 months. Some pumpers have stated that no dilution would be involved with agreements or collaborations. However, the ATM would be a "separate entity" away from those claims. Keep in mind though, these agreements or collaborations have included Warrants that would also be included in future dilutions. Those Warrants total about 20M shares. So I think it's safe to say there has been about 56M shares added so far to the OS & Float, one way or the other. So going off of the last 10-Q (your DD may be more accurate) the diluted OS may have jumped from about 262,000,000 to 318,000,000. And the diluted float from 87,000,000 to 143,000,000 (might be your 147,000,000). It may even be more. And if you average the selling price of 0.60 cents(?), regarding just the ATM portion of 34M shares, that would equal about $22M of the $50M cap on that March ATM. If that is the case, then there is still a lot more dilution ready and waiting in the wings. I am just averaging the 240M shares, the 15%, and the 0.60 cents here, so you can tweak those number any way you want. But yes, pretty close and big dilution nevertheless.
Will they stop ?
