dsertrat, ..I don't see how you can get a black and white answer to your question.
Without looking at your example, (CESY), my first thought would be,...... "that would depend."
That would depend on just how critical the "lack of revs" is.
Do they have zero revenues? If that's the case, issuing more stock would be a matter of survival.
Do their revenues, such as they are, not meet their needs?
Do they need revs to pay the rent?
It seems that lately, we are seeing such high numbers in Authorized Shares and Shares Outstanding that we are losing our perspective.
450 million shares is one big OS! The AS means nothing more than a number they can tap into and the number of Authorized Shares can be changed with a simple vote of the BOD.
I guess, before I could say I would or would not expect a S-8 filing to issue more shares, I would have to ask why they have such a huge OS now.
Hopefully, it's because they issued a bunch of shares for things like acquisitions and not just to pay the rent.
In this case, more DD seems to be on the agenda....
sorry I couldn't be more definite.
"Aim low Sheriff...They're ride'n snakes"
as usual...JMHO..SMD