Creede - you're right to focus on the share structure and the lack of dilution to date. Let's face it. This has been a comedy of errors, mostly because of listening to promotion type people primarily interested, as you suggest, in getting cheapo shares. This is very typical of pink sheeters and a primary reason why one sees the typical ski slope chart to .0001.
However, there is good news. Despite hoards of spam bash, perhaps rightfully so given the errors, the missed dates, the broken promises, etc., the stock has not totally collapsed and met countless predictions as low as the spammed RB .0001. Why? Largely because the stock share count has been relatively stable.
This is the number one factor, above all else and everyone should keep that in mind.
That being said, growth must be shown, not just promises and potential for this company to move to the next level. Hiring of people to do administrative jobs has to be much, much better than it has been in the past. I believe Dexter fell into the typical CEO mode. That is, the typical CEO is bombarded daily with smooth talking, jibe salesmen who tell them they can be rich, just "trust us," and issue us shares. Often the initial out of pocket can be less than in terms of cash and that can be attractive. Time demands and cash needs are critical to a tiny company survival. When a "savior" walks in the door and promises riches, it's hard for the average CEO to just throw him out, but he must!!
So, bottom line for anyone giving advice to Dexter, from a shareholder standpoint.
The jobs have to get done. Identify them. A CFO (or whatever lesser title is used) should be a person who makes sure numbers are accurate, filings are made on time and that money is allocated to keep the business running. This job is not impossible. The components should be identified and pay based on performance, with applicants picked with a proper vetting process.
This is not a tough assignment and it can and should be done. They don't need a full time 6 figure guy. It's primarily accounting and organizing and creating systems. It can be part time with overseeing some lower paid or even student help.
Once the potential hire starts talking issuing shares, throw him out!!!!
So CFO - or whatever title, yes, have one but let's separate the job from the promotion. Same answer with respect to IR. It's not a difficult job to give progress reports and put them on a wire. It involves the ability to write concisely and coherently and to pay a $500 fee. There is no need for massive issuance of shares or a 6 figure pay package.
As for uplisting, it's a plus and they have created an expectation. Failure continues a pattern of over-promising and under-delivering. Yes, they are "less bad" than most pinkies but that's not what we want.
Many companies, legitimate companies even, are finding the Sarbanes Oxley requirements too stringent and are going pink, but remaining fully filing. At the very least, I don't think anyone should invest, other than to trade, in any company that is not fully filing. The use of auditors and compliance with SOX issues is a costly one and should only be made when it is clear that the company can afford to start and not stop. Again, perception is even more important than reality and, if a company promises, starts, but then stops levels of transparency, it is subject to harsh criticism and loses its following.
If they can afford OTC BB, which is not nearly as severe a cost in time and money as going on an exchange, then they should do it. I think it's reasonable at this point. They seem to have done most of the work. But, again, make sure they have a projected generation of cash such that they don't have to start and then stop. Above all else, they should not be counting on share dumps to finance accounting or promotion. Share issuance should be strictly for accretive acquisitions at this point so there is no question of value creation.
Hope that helps and best of luck to all here.
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