Why would they more than double (taking into consideration of the number of preferred shares) the potential amount of outstanding shares? Points to significant dilution.
Reasons why:
Bonus for executives and board members Money by increasing number of shares in the float More acquisitions
No matter what, there will be an increase of the number of shares in the float over the next year (JMO) otherwise why that much?
Typical penny stock move.
Stating what Damaj has involved, I don't think there is much risk for him. He has a number of ways to benefit if things start to go south.
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