California Grapes International, Inc (CAGR)

[wounded bear]

I am long here and don't want to be negative, but is anyone else concerned by what you see in the last page of the financials? It looks like they have issued a load of shares again seriously diluting the value to those of us who got in and bought shares. they seem to have given away a couple billion shares over the last year. Am I r4eading this right? At June 30, 2008 the issued and outstanding shares were 146,834,775, 2009 it was 2,540,834,775 and 2010 it is 2,510,834,775 which is an increase of approx 2.36 billion shares in a couple of years. Although they did decrease by 30 mil in the last year, it was supposed to be a year where they retired a half billion shares not just 30 mil. Yes the sales and inventory are growing, but who is watching the share structure to protect us, the individual long term shareholders! I am concerned and disappointed by this and hope someone can explain it to ease my worried mind. I was hoping to make some $ on this stock and thought Frank was a straight shooter, so I hope that one of you can help me to reconcile this stuff. Thanks.