Manzo Pharmaceuticals Inc. (MNZO)

[investor_61]

Prior to Mini-Mart's involvement, FOGC had 65M shares issued and outstanding and the company's share capital was 100M shares (if I recall correctly). Mini-Mart got involved and immediately increased share capital to 888M shares and issued over 700M shares to parties unknown and for reasons undisclosed to investors. I'd call that very serious, yet unjustified, dilution. Now they've increased share capital to 2.8B shares. How many shares will they issue now? Mini-Mart are the beneficial owners of over 50% of the shares in FOGC otherwise, they'd need shareholder approval to increase share capital, perform mergers, etc.

The more shares they issue, the lower the PPS goes. This trend will continue, as it does in the case of every pump-and-dump.