Steve is very frugal in issuing shares, the insiders are holding 40% of the outstanding shares, they won't want to dilute their own shareholding. The increase in AS does not mean all of them will be used, read page 8 in the Shareholder Update, it says the company needs only $2.5 million between now and inflow of revenue:
The company could issue shares to it JV partners in lieu of cash for its share of obligation the JV partners will keep the shares for long term holding, thus mitigating the negative impact in the market.
If you have no faith in the company's future, sell all your holding and move onto other better play, if you can find it. It is moronic to curse your own investment.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.