IMO the first SB2 that goldie is referring to was received with open arms by investors as we knew that even though toxic it would provide the financing for the company to move forward. It was welcomed and after it taking so long with the SEC JF made a point of making it known when we finally had financing. One mention was on stockinfosys. When it was approved it was the trigger as the CC announcement came out a few days later. We speculated that they, CC, had insisted we show we had the capital available to carry out our agreement with them. Before it was finally approved the SEC did require us to register another 2.5 billion shares to cover the possible extreme amount of shares that would have to be issued to cover the full $12.5 million of financing. IMO any decrease in the pps during 2005, until 10/5/05, was because of poor company performance. They could not satisfy subscribers and the churn rate was astronomical. They couldn't produce subscribers so that investors could have any confidence in them. They put out such things as that rediculous SB commercial. In fact, as it had taken so long, many except board members had probably forgotten by then that the SB2 had even been filed.
I do not recall anyone trying to imply that when GGI converts debentures into shares and sells them that it is not dilution. But, in this case, because of the CC affiliation, the share pps from the time dilution began until now has not decreased, it has increased. This is an anomaly as the dilution since 10/05 has definitely effected the pps but as a result of other factors the pps is still 200% above what it was when the financing began.
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