The "ONLY" thing that made this stock "rally" in June/July of 2010 was the potential "deal" with NAK - which of course was shattered by crap financing and silly stock option grants.
There would be no reason to issue 5 BILLION shares if there were any deal imminent - but again - this is only my personal opinion.
You are entitled to yours as well.
I don't post on this board to argue - just to state my opinion.
You and Eli's make excellent points, and always have. I don't know if you are right, but I think an open inquisitive mind (something you both have) is more likely to correctly perceive reality than the closed or emotionally-driven one.