To be honest. I think they seem pretty serious about growing. Just look up the hashtag #exosleeve on Instagram. Number of users using that hashtag is growing day to day. People LOVE their customer service. Their packaging is really nice. They are truly making an effort.
There's a bigger opportunity for these guys to make more money selling "trinkets" than stock. They're selling stock to extend their runway to grow is my assessment. Not to "spread out on the beach"
Also, their revenue was $196k in q4 alone. Total revenue was $750k I think. My prediction is that they'll do $2-$3m in revenue this year based on how many people use the exosleeve hashtag daily after making a purchase. It's looking very good for EXO.
Your information doesn't seem very correct. As of February 2016 there were 78 million shares outstanding. As of February 2017 there are 104 million shares outstanding. So in a year they converted around 25 million shares, so they didn't sell a ton of shares and only increased the OS by 30%.
Sure doesn't seem like there main business is selling shares.
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