Shows the power of stock promotion.
At the beginning of 2008, there were 5.8 million shares outstanding and it was trading at around $0.05. Market cap: $300,000.
Now, after constant stock promotion and little else other than giving themselves a massive number of shares, Mr. Curtis and Mr. Glusic have 45 million shares outstanding at $1.50. A market cap of about $70 million.
That's over a 200 times increase--and the kicker is that they haven't shown anything which can be objectively construed as value since the beginning of '08. Is it really worth 200 times more than last year? As a startup with no indication that they have any value, I would say that $300,000 for the company would have been grossly overpriced. Luckily for Mr. Curtis, most investors don't try to value the company but instead go on gut feelings and momentum.
Typically by managing the rate at which they sell shares to the public, they can keep the price up for a while but eventually it will fold.
Yes, there are people like Mr. Curtis and Mr. Glusic who devote the one life they are given to the noble goal of scamming people out of their money.
Yes, I understand your penny stock also is the real deal, created with the inventiveness of Edison and destined to be the next Microsoft. Yes, I understand that the delays are also only because your company is making their product even more revolutionary.
