"OK Spot, perhaps we can get it right together."
Fair point.
My figure of 357% was right when compared to the float when the proposal to authorize 800 million shares was first made.
As you point out, the float at 10/10 was actually 243 million, which makes the dilution versus that number 229%.
However, for the prior quarter, the equivalent figure was 174 million.
In other words in the space of three months Biophan diluted their shareholders by 40%. That's an annualized rate of 174% (and before someone says , no, it's 160%, do the math properly).
And they didn't move the development plans for Myotech forward by one inch during that time, as far as one can glean from their somewhat minimal last 10 Q.
Why would anybody trust them to do better with the next 555 million shares than they have with all the previous dilutions they've issued?
Let's fact it, the only people who've made money on Biophan are a collection of Officers past and present, their "sewer rat" buddies, a selction of paid touts and pumpers and a few day traders with an exquisite sense of timing (and good luck to them as long as they tell the truth).
The one group who have lost, and lost big time, are the group that people are constantly being invited to join by the Biophan adherents on this MB, that of the long-term holders of Biophan's increasingly worthless shares.
And I think there's something wrong with that.
Personally I don't think it's unreasonable to ask Biophan's management to share their undoubted wealth with its long-holding and long-suffering shareholders.
Michael Weiner bought both a new mansion and a new yacht with what was originally your money.
John Lanzafame has a large six figure salary and a six figure bonus courtesy of you guys. And what, you should ask yourselves, has he ever done to deserve either of those things?
After all, you were once the owners of this company before they mismanaged it and marginalized you all via toxic financing, preferred shares and constant dilution.
I thought Capitalism was about rewarding and encouraging success, not about incentivizing people who redistributed your wealth to their personal pocketbooks while leaving you high and dry?
