Wialan Technologies Inc (WLAN)

[joeecm]

I'll save you all some time bro...

Read pages 52-54 of their annual report. Clearly shows all those issued shares went to either pay off old debts or else pay bills. They issued 9M alone to finish paying off the loan from several years ago.

These are what I like to refer to as acceptable dilution.

And if you go back to page 50, you will see that they moved over 25M shares to cover their big $300K loan over the course of about the last two years. Since there is no shareholder of record holding 25M shares currently, we can only assume they dumped a lot of that into the float. None of those shares were restricted, so they could have done just that (and I would be surprised if they didn't do that). 25M @ .01 would have pushed $250k back to them. They could have shed a few million more last year no problem, but these shares being introduced into the float would have accounted for nearly the entire increase last year.