Doing a little research sometimes helps. I didn't have much to do this weekend as my teams both had byes so I read a little and made a couple of calls. Reviewing your comments I think the following might alleviate your concerns. I copied and read all the press releases since March of 2009. I thought about posting them but they are all readily available.
1.) The Bulgarian subsidiary was established in 9-05-2012 after a lawsuit over the patent was resolved in which the Company prevailed.The patent/license agreement according to the OTC filings was valued before any clinical trials were completed at over $10 million. This value may or may not have been increased by the completion of the trials but it would not make any sense for the value to have decreased based on completion of the trials.
2.) On January 29, 2013 (less than 4 months later) the company announced they had been in negotiations with an "International Bio-Tech Partner in the HIV cure technology sector for joint advanced Research & Development and the partner has agreed to provide the necessary funding for the USA Clinical Trials phases to ultimately achieve FDA approval for the medicines". Nothing else was ever disclosed about this funding transaction but since 12-31-12 until 6-30-14 equity has increased by $481,120 from what I can only assume has been the issuance of stock. Issued and outstanding at 12-31-2012 was 433,496,325 and at 6-30-2014 was 518,894,447 or an increase of 85,398,122 at an average per share price calculated from these two numbers of $.00563 for restricted shares that can't be traded for the most part until 2015. The majority of these shares were also issued before completion of the clinical trials. Loans have increased by $252,792 for the same period. This reflects Investment in the Company of over $738,911 in loans and subscriptions since the year the Bulgarian trials started. Whether or not the original funding source or the company decided not to follow through with the transaction was never disclosed but the Company has been funded and some of the clinical trials have been completed and application has been made for the next step. My guess is that the USA trials were put on hold based on the movement with the Bulgarian trials.
3.) According to Blaine Nabors, he has not been associated with the Company as anything other than a shareholder since the middle of the second Qtr of 2014.
4.) A completion of two years audit and filings with the SEC would have to be part of any "uplifting" No information has been provided by the company regarding the status of this process.
Not that I believe everything that I read on the Internet but when I googled "how long does it take to get a new drug to market" the answer came up that from the discovery in the laboratory to clinical trial to regulatory approval the average time is 8 years unless the drug/treatment is put on a fast track. Immunotech started in 2009 when the patent issue was resolved and began clinical trials in the third Qtr of 2012 after the Bulgarian subsidiary was organized. The Clinical portion of this process was reported to be the longest portion of the process and in a little over 2 years Immunotech is through Phase II and is ready, upon issue of the permit for Phase III to start human trials. If the clinical trials make up the longest portion of the time required to bring the treatment to market (approval appears to be around a year after the clinical testing is complete) it looks like Immunotech will be right at or less than the 8 year average The patent was licensed to the Company in 2009 and there were reports of other treatment successes in Mexico prior to starting the Bulgarian work, GAP reports prepared for furthering US testing and successful completion of placebo test all of which points to the fact that something about the treatment must work.
Everybody has to draw their own conclusions about whether investing in a company working on developing a new drug treatment for a deadly disease is something that fits their personality profile. Information flow from the Company is less than perfect but I don't believe that Immunotech has a staff in the US as there is no payroll reported on the filings except for payroll accrued for officers that has yet to be paid. This would also explain why the uplifting has not been pursued as the resources of the company seem to be flowing towards new drug /treatment development and completion of the current efforts to bring the existing treatment to market.
It is important that each person understands what the risk and potential are in making a decision on whether this is a "Scam", "Dilution" or an issue of "trust". With an exclusive licensing agreement on a US registered patent, $400K + in funding coming from the issuance of restricted shares at an average price above the closing price on Friday which can't be traded for two years after issuance and $200K + in loans, Gap reports by reputable US entities, placebo test, successful completion of Phase I and Phase II testing I am not sure where the terms scam and dilution fit this situation. The trust issue sounds like a personal issue which also does not appear to be relevant to Immunotech.
News 
Market Data 
Discover 
