Yes, I saw the filing last night and posted about it this morning.
"This is illegal BTW"
No, it's not "illegal."
"Plus, they're looking to take out a $12mm loan through share issuance."
By "take out" I assume you mean "eliminate"? Well, yeah. That indebtedness is why the stock isn't $5.00 right now. Everyone has known about this since the stock was trading at .03 last year.
"What do you think 24mm newly issued shares will look like hitting the float?"
See my prior post. When there are 75 million shares outstanding, and the company is a market leader, it will have a market cap of $225 million when it is trading at $3.00.
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