Preferred stock is protected from reverse split. It wouldn't make sense for CEO to sell at the risk of shares getting in the hands of flippers who I believe have diluted the market to the price it is. That is why our market cap is still solid. If it were 8 or 9 million I would be concerned. Company is strong I believe and longs know what they have.
$0.03 would be a market cap of under $50m. .05 would be $80m. There are LOTS of companies that no one has ever heard of with a $80m market cap. It all depends on cash flow and new business relationships.
I'd say that going from a 30,000,000 share IPO to 1.5 billion shares is quite a dilution wouldn't you say. And I was asked to buy shares for $1.10 in the first offering. Glad I passed on that one. We'll see what happens now that there are over a billion shares out there. I saw a glimmer of light when the first of the toxic funding took place...but that was back when there were 200-300 million shares outstanding. Not sure any news or product release could take this over .05 with the amount of shares outstanding.
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