They're not tight on cash...
This is intentional. In fact, they have more cash than any point in the recent past. Their surplus PER DAY is about $1.8 million since going from almost ZERO to about $26 million in TWO WEEKS. They're no longer just diluting what they need, but appear to be intentionally destroying shareholders. I previously noted they can only do a R/S under specific scenarios in order to stay above $1 properly, and still have enough public outstanding shares (not held by insiders) to remain listed. In order to do this, they need to dilute like hell, just so they can do a MASSIVE reverse split like 1 for 2,500 and still have sufficient public shares.
I can't trust their SEC reports anymore though either. Their "cash deficits" reported in the past SEC filings I've shown you before doesn't add up.
Their 10-Q says Canaccord gets 4% of the gross proceeds of the ATM dilution, yet their attachment to the 10-Q on the ATM dilution and their original supplemental prospectus confirms it is 5%. In other words, they made a typo.
They "typo'd" the 4% MP sub ticket buys vs total domestic in one of the articles I previously posted. Ted said that's a typo in the article.
There are many inconsistencies. They claimed there's been 232,400,000 million shares diluted between June 30th and August 9th for ATM dilution and another 266,600,000 for notes conversions. This adds up to 499 million shares.
Yet, when I add up all the prior dilution which I've accounted for all this, I'm short hundreds of millions of shares that I have to increase the dilution rate for August 10-13 (because the 636 million OS shares was reported as of August 13) to well over 100% of the trade volume of those days, which is NOT possible.
In other words, August 10 had 171 million shares traded and August 13 had 122 million. 636-122-171 = 343 million shares difference.
The 10-Q basically claims they sold 499 million shares between June 30 and August 9. However, the 1.685 million shares on the R/S day means they actually had an OS of 1.685 x 250 = 421.25 M shares on July 24 (day BEFORE the R/S), & with the last OS reported on July 10 of 268.75 million, they had sold 152.5 million shares secretly between July 11 and July 24th. When I add up June 30 through July 24th, I get 173+ million shares sold. If we do 499-173 = ~326 million shares sold AFTER the R/S through to August 9. Since they have 636 million shares as of August 13, that means they'd have to sell 636-326 = 310 million shares between August 10 + August 13. The trading volume between both of those days were 171 + 122 = 293 million only.
That means Canaccord would have had to do ALL the selling (with no one else selling), *AND* MORE than the traded volume for the last two days. That's not possible. They are lying and cooking the books, or they are making huge typos. Remember that they warned they do not have adequate financial controls in their SEC reports a few months back which I listed in one of the articles I posted before.
AI
