If PDMI isn't allowed to dilute within 20 trading days, until after the "D" is dropped as some have posted, then no Davis isn't diluting. I think it is more along the lines of what lakeshore posted. If it was Davis, I think the volume would be much greater than it has been.
Not every CEO will regularly communicate that the FDA requested more information. They will simply say that they are still waiting for approval. Via the website, he has let investors know that in addition to what they are trying to do with other products. He didn't necessarily have to tell that there was a "chill" on the stock which kept them from diluting more over the past 5 months. He could have just informed us that the R/S was coming. Investors have known for over 1 year that they would be diluting. From the PR that stated that they would be looking to raise $2M, to the increase of the A/S to 20 B. Again, the financials are telling why we are seeing so much dilution. It was on the investors to realize this and act accordingly. We were all playing with fire since early 2010 before the massive dilution. Some of us had the chance to exit with a profit at the end of 2009, but we chose to stick it out. As they say, bulls and bears profit, hogs get slaughtered. Especially in the penny world. I'm not happy about the dilution at all, but I can't fault Davis for my gamble.
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