I have no problem with a start-up diluting the shares to pay the bills and for launching new products; however. I would be much more at ease if the management would disclose the financials explaining in detail the distribution of the proceeds.
Management also needs to begin to think about putting together a diverse board of directors. Members of the board will bring additional skills and contacts that could help the expedite company goals with less risk of bankruptcy.
I would also like to add that the possibility of another reverse split maybe the last nail in the coffin if they try it prior to a substantial increase in revenues. If the cash is rolling in, the PPS will rise and only then can another reverse split will be accepted by the shareholders and only to rise the PPS over the $5 threashold to attract the institutional investors.
I believe that at this point in development of this company, full disclosure would go a long ways to attracting new investors as well.
I highly doubt it.......why would they up the a/s count to 1 billion if they aren't going to stop diluting???? And I don't think their telling the truth about the sales numbers......my opinion.....well see on their next fin......