Digital Brand Media and Marketing Group Inc (DBMM)

[Sola Fide]

There wasn't much room left with in the 200m AS.
They are burning up (giving out) shares to fund operations, loans, debts, convertibles, etc, etc.
If one reviews the 10q for q ending 5/31, they will note the OS was 138.7m as of July 9th 2010.
OS currently as of 1/19/2011 is 167.2m, so in 6mo they've worked through / added about 30m to the AS.
Higher overhead now was going to result in burning through the available balance of 33m in short order...imo.
This is without factoring the $150k debt assigned to a shareholder (can be converted into shares). Then there is the $1.1m owed to officers and employees.
Currently, debt is increasing..more mouths to feed.
They have a cd for $53k that can be paid cash (unlikely) or converted into shares end of March 2011.

The company has $88k in cash, and if I'm figuring right "operating expenses" are about $225k a month.

Originally the company repeatedly pushed the point that there would be No dilution for 1yr after merger closing...that time is soon coming upon us, only but a couple months.

I am by no notion an expert on reading k's & q's, but I don't see the $2m and certainly not $4m as I read suggested?
Are they counting "current assets" & "intangible assets" as revenues?