soup, you are not understanding - Pagnano saying he will reduce the public shares by 95% when there are very few public shares is misleading at best.
Ask him how many (exactly) public shares are issued and outstanding. Then ask him if there are already over 10 billion shares issued and outstanding. Then figure out what your percentage of the total shares outstanding (public + private) you own compared with what you would have owned when there were 25 million (TOTAL) shares outstanding right after the 2008 reverse split.
Do you think Pagnano would have disclosed that there were close to 9 billion shares issued as of last week if a poster here had not been calling the transfer agent and getting updates? Actually, he (Pagnano)didn't. He did reveal that there were 2 billion shares out a few weeks ago, but there were over 5 billion out within a day or two of that.
Scary stuff, huh?
Welcome to the world of penny stock losing companies, who's entire business seeems to be mostly to dump shares on unsuspecting people like you.
