The increase of number in shares that have been sold into the market the last several months is where the capital has come from. They were broke in November and the only sourse of funds left for them was the stock market. This is why the share price is down to .003 today. And only further dilution is what will be able to provide the cash to continue working towards becoming fully operational.
There is no long term or short term financing pending. I am certain that they are talking to anyone that would listen to them about financing. But long term financing has been imminent here for at least 2 years. It is impossible to believe that for anyone with any financing experience to really think that any instituition is going to put good money after what looks like bad at this time.
There is only further dilution pending. Even at a obnoxious figure of say 1 billion shares at say today's share price, which no way they will get that for a billion shares. That's 3 mil dollars. How long and how far will the cash get them at the present burn rate.
And if they still have money in the bank and they are not paying the employee's " whether it be voluntary or not" is absurd.
So unfortunately the only finacial plan for aquiring working capital is dilution dilution and more dilution.
I know it sounds hardcore. But these are the tough facts at this time.
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