S-8 Shares are dilution, plain and simple
I suggest you carefully read the last quarter report and listen to the last Annual Report. Download the last quarter's supplimental(sic) materials, and look closely at the material improvements and growth.
You will have a much better understanding of the company and its future prospects.
What I understand is that since the last CC and annual report this stock has went no where, no matter how closely I listen, or how closely I look, I have no better understanding except future prospects are just that--prospects. A bunch of folks went out to California in 1849 prospecting and most ended up broke. Talk and forward looking statements do not a pan of gold make.
Interesting all the chatter about shelf offerings. Clearing them out at a discount might eliminate the "carrying costs" on the books but issued they were. We were just given another example that as long as those warrants are there they will more than likely be issued. Yes, I know that it is not dilution until they are issued but from what I'm seeing a whole lot of dilution is occurring. Cleaning out warrants by amending Agreements in favor of the warrant holder seems like bad business decisions to me, i.e. if indeed those warrants were bought for 94 cents and not the $1.26 or $1.55 that was in the 2009 agreement.
Gene_Genome broke it down as follows:
Except as otherwise indicated herein, the information above and elsewhere in this prospectus supplement regarding outstanding shares of our common
stock is based on 174,100,629 shares of common stock outstanding as of April 30, 2009, and excludes the following shares of common stock:
• 9,851,967 shares of common stock issuable upon the exercise of stock options outstanding as of April 30, 2009, with a weighted-average exercise
price of $1.67 per share;
• 2,804,660 additional shares of common stock reserved for future issuance under our stock incentive plans and our employee stock purchase plans
as of April 30, 2009;
• 16,157,895 shares of common stock issuable upon the exercise of warrants outstanding as of April 30, 2009, with an exercise price of $1.30 per
share (subject to adjustment);
• 6,445,698 shares of common stock issuable upon the exercise of warrants outstanding as of April 30, 2009, with an exercise price of $1.92 per
share 10,838,151 shares of common stock issuable upon the exercise of the warrants issued hereunder (assuming that all of the securities offered
hereby are sold).
Still long and waiting, and waiting, and waiting
