chwdrhed, you are right. Norris Communications (NCII), which later became e.Digital (EDIG), has relied on various forms of equity financing since it's very inception. In other words, Norris has continuously offered equity in exchange for financing.
Unfortunately after 100% of the original equity had been sold several years ago, dilutive "equity financing" began. In each of these cases, the ownership of existing shareholders was significantly diluted by each round of new "equity financiers." It was the continuous dilutive financings over the last many years that has caused the outrageous number of shares outstanding and therefore the unrealistic market cap.
Because a large number (perhaps the majority) of EDIG shareholders have not understood the implications of this massive dilution, the share price has not dropped as much as would be expected given the financial situation of the company. Any realistic fundamental analysis of the company shows that it should be trading at a mere fraction of the current share price, even if future prospects are considered.
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