They got a very large financing plan mid-year to move forward. Per the 10Q s the company had raised $722k in Q3 and another $355k in Oct and November, for more than $1 million. That's evidence of the funding you seem to be implying they didn't recieve. The recent announcement of an additional $1.5m from the same source for the Stageit acquisition would seem to be a good sign that it is about to happen.
Re dilution, here are some more facts:
1.413B outstanding vs about 1.211B shares a year ago. That's about 16% increase in dilution. Put another way, the dilution of roughly 202 million shares over may sound like a lot but over 253 trading days averages out to 834,000 shares a day, or only about $8,000 a day. The TOTAL share volume per this for the last year was about 1.57B so the dilution was just under 13% of the volume for the year.
13% on average is not going to crush a stock price over time. Now, most of the dilution was in the last 6 months, so in reality it was closer to about 20% of the volume over the last 6 months. That can create problems but the company can EASILY overcome that with coming through on major announcements like this acquisition coming up and moving to the higher exchange, and other things not yet known.
Regarding the debt consolidation - I don't remember that as a goal, but they did restructure $857k CONVERTIBLE into a NON-CONVERTIBLE note, which is huge and the evidence of that is in the 10Q.
Obviously things haven't been as rosy as expected and I've been quite vocal about that myself. Concrete results of these financing efforts HAVE eluded us so far..but I think all that is about to change..
Now if there is nothing new as well as no update by the end of the month we may see more downward pressure on the stock price as people really start to lose faith, especially if the overall market continues to disintegrate. Getting back to over .01 in order to qualify for the uplisting will become progressively more difficult.
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