They need to survive on debt and are burning through cash, do you think they will get all of the money they need through traditional financing while already carrying massive debt loads?
They already stated they have 3B shares reserved for dilution per the 10k
They O/S will get close to maxed at 4B and they have little they can do to stop it.
They already split in 2018 due to the amount of dilution, wiped the slate clean and did it again. Go back and see what was said during that time as well.
All companies say they will try and deal with dilution, they are not just going to say they are going to dilute the company into the ground and reverse split as they want to keep interest in the company, they need people to buy the shares.
The damage has been done with the debt that is out there, hell they just issued more convertible debt within the past month, so how does it make sense to close out debt without dilution while continuing to issue convertible debt
In August 2020, the Company issued 327,513,771 common shares to investors in satisfaction of $804,160 of principal on convertible notes.
On September 18, 2020, the Company issued 97,250,000 shares registered under the Stock Plan 2020 to a consultant for services. The Plan expires on December 15, 2021.
In September 2020, the Company issued 6,500,000 shares for consulting services.
In July and August 2020, the Company entered into new $125,000 and $500,000 convertible notes with an investor.
In July 2020, the Company issued 784,966,812 common shares to investors in satisfaction of $977,350 of principal on convertible notes.
In July and August 2020, a warrant holder exercised warrants and received 204,771,864 shares in five cashless transactions.
