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Tuesday, March 29, 2011 11:30:28 AM
As of 2/24 they had 194 million OS
Issue 200MM per S8
Add shares issued to pay convertible debt, salaries, vendors, note holders (12 million we know about)
Puts total at
194 + 200 + 12 = 406 that can be verified
I'd guess they've issued maybe another 200 million that has yet to be disclosed.
If you think about the fact that they have no $ and have to pay bills/salaries etc
I would assume the average guy working there must make at least $1k per week
at .001 that means they need to issue 1MM shares for every $1,000 of salary they have to pay
no clue how many employess they have but at 1MM shares/$1,000 of salary that's alot of shares they'd be issuing and think about what else they have to pay with shares
Alas the truth will be revealed when they file the 10K which of course will be late
JMO
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