Any dilution is being sold back door to accredited investors, that are not going to be selling into the market currently.
The current price and volume is routine. This stock falls on lack of news, and goes up with news. I am temped to add at this price, and may do so soon, if the price holds, but I will add on any large price drop under .10 while it lasts.
I expect this stock to take off like a scalded dog sometime this year on news of a partnership deal with a coal fired power plant, and possibly a DOE grant behind it. When it happens .30 will get left behind in the dust quickly. Until it happens, we are likely to see price pressure as people get drawn away by lack of additional news, and get drawn off by the lure of a rising market and other rising stocks.
But back to your question, yes this company has been operating on cash flow from ongoing sales of new shares directly by the company to only accredited investors. The good news is, they hinted strongly that they are in real negotiations with real potential customer/partners for the first full scale plant / project and expect to announce a deal this year. Bad news is the price can slide while waiting on news and can be very volatile.
I have high hopes and expectations for this one, but nothing is ever 100% sure. Cap and trade legislation seems to currently be on the back burner, which does not help stocks like this either.
If you don't own some shares yet, I would buy a small batch here at .10, if you have a nice stash of shares already I would wait for mid April to buy more when I expect most stocks to pull back some after OPEX and quarter end tape painting by mutual funds, to see if the .10 area holds before nibbling and adding much more. So far there has been strong price support in the .10 to .12 area. I think part of the low price today is some speculators getting tired of waiting for the big news and selling out a loss, those that chased and bought the news about a month ago loosing faith and taking a loss.
