Obviously I have continued to read the posts here and on RB.com to try to get any any additional information that I can get also. Gary has been very helpful and other posters have also been helpful here. BUT.....the reality is owners or former owners of this company...we all bought in without even having audited numbers. This company barely had a float, no real public information, no website, its even difficult to understand how their revenue model works. When you are at this early infancy stage of a company's life lets face it anything can happen. We all bought before the acquisition was even fully completed...talk about throwing your money on the table.
With only 200,000 outstanding at a little over a dollar I am not the least bit surprised at financings that create dilution. We all know that even large caps do offerings that dilute shareholder value so how could you not expect this in this case.
Yes it would be nice to know the exact current float but again we don't have audited numbers right now. I did call the SBDC's in California and got very good feedback regarding the system that this company has designed. Apparently it is legitimate. Depending on the amount of new shares and earnings we will see where it stands in terms of profitablity(?) 12 mos or so down the road. Using old amount shares outstanding..public,private ,restricted, and calculating projected earnings this guy was talking about the stock was ridiculously undervalued. It could still be a a bargain if they pull these numbers theyre talking..even after dilution .
No way to grow without financing. Do not take it negatively for the long term. These things ..again lets face it ..can sink to pennies on the share before legitimacy is recognized. Either way gambling and money on this should be earmarked as disposable and at the furthest edge of your risk. If someone is willing to actually sink 3million into it it is the beginning of that legitimacy. As long as its true....:)
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