There is no market for any meaningful number of shares.
That's the relevant fact.
Whether the company trades at avPPS of 3 cents, a penny, or fractions of a penny, meaningful operating capital cannot be raised because there is no market for this equity.
There's no market because people understand there is no product, no sought-after innovation, no magic bullet.
There's a man (Fred) who sits by a phone in a 400 square foot? office hoping for a call from a lawyer (Gabe), hoping that the lawyer has squeezed some additional drops of juice from the lemon (the illusory patent portfolio) so that the next month's OE (rent, phone bill, Fred and Mardee? salary checks and health insurance premiums, accountant fees for expensive public reporting requirements) can be paid.
There is no source of these operating funds other than the lemon-squeezing described above. Forget about authorized shares. There's no market for them.
The company will fold IMHO, that's not the question. The only question is when, and I suspect that is an issue that Fred is wrestling with at the present.
All JMHO.
