that doesn't seem good.
I noticed it estimates $100K for salary related expenses through the fundraising.
$100,000/$0.0005 = 200 million shares, assuming they sell the shares at .0005 (I doubt they could get that pricepoint unless they have some good news coming).
To become profitable in Q3, they should be able to pay their own salary by Q3. So why $100K needed until Q3 for salaries? are they each making $100K a year? At this stage, that does no seem warranted.
perhaps the filing is just a threat to keep people from re-converting. Or maybe they were conservative with the estimates.
But if we go through another round of dilution like we saw last year, that would obliterate my investment here.
God grant me the serenity to deal with the things I cannot change; courage to change the things I can and should; and wisdom to know the difference.
