The challenge is they are continuing to issue 40 million shares per quarter (p 5 of latest 10Q) on the “Sign” loan debt service. As such add 160m shares per year until they can retire that loan. So for 2018 for instance, adding around 50% to outstanding shares of 269m. So revenue will have to grow 50% just to hold on going revenue per outstanding common share constant. I believe this will prove a hindrance to share price growth. Do others agree? I never have figured out how to reconcile this with the run up in stock price in my mind.
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