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Friday, July 30, 2021 11:30:50 AM
May be a private offering to accredited investors, and the shares they buy may be locked up for some period, maybe 6 months, so they would not initially increase the float, but unless something highly unusual, like preferred instead of common shares are issued, which would by the way be convertible at some point into common, unless something like that, they do increase the outstanding common share count (o/s count) as soon as issued, just temporarily restricted shares within the o/s count.
DILUTION is coming! The only question is, at these low penny prices, how many shares, how big the dilution will be. And I suppose, will they be able to successfully find those accredited investors.
Now, IMHO, a Reg D offering, assuming fully successful, is healthier dilution than the old garbage financing this company used to do, so that is a step forward, but it is still dilution.
Which, also IMHO, since already at over 760m o/s, this new dilution will just make an eventual R/S that much more inevitable. If the company is smart, they will not rush doing the R/S.
A few little silver linings in this PR, but a great disappointment given the hype about what was expected from it, and still some real concerns. Still way too many unanswered questions, that I am concerned may hide some very bad news. And still needs much more time, including starting and completing the planned final phase of testing.
Hate to say it, but share price may well be about to plummet again! Will the recent $.0124 low hold as support? Or will that level fail and will this test or even break below the $.01 level? Kinda scary!
That 2,000,000 shares on the ASK at $.0162 we've seen the last half hour or so is likely to be just the first of many large blocks at lower and lower prices.
GLTA
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