Well. I say that you both are right about RS. But I will add that TRTC will probably first raise the AS count to probably around a billion then they will do a RS. They can't do a RS with the AS maxed out. That wouldn't leave them any wiggle room.
R/S not happening for a long time, CEO has said several times to shareholders he would only do it when the time is right to move to Nasdaq that would be the ONLY REASON ! You are like the boy who cried wolf...The O/S will not increase much anymore with all the revenue coming by 2018.