Anyone that read through all of the filings, especially the last quarterly, should have expected another forthcoming amendment to the authorized share structure. You have the current dilution of less than $80,000(I am just going by the last filing, excluding what has already converted and come to market). You have another $38,000 that will come available for market in Feb.. The real financing is being established for roughly USD1.5 million plus or minus. That would have a restriction, and a need for an increase in the authorized.
If people really understood the conversion factor of debt, and the amount of shares that could come to market(current worse case), they probably wouldn't play this in the short term. On the other hand, given the same, it is why I am here at this time. I play things very differently than most in this OTC venue though. For example, $120,000 in short term debt with a low share price of .004 will convert all that debt into 50,000,000 shares(short term convertible via Asher).
I entered this with the realization that the outstanding would have the probability of increasing by roughly 50,000,000 to 150,000,000 in a worse case scenario, and a "best case" scenario of 15,000,000(.01 share price at low end to base conversion at 41% discount). Given "current short term debt", and time frame. I also consider this minor dilution given this venue, because it is short term and doesn't have to be that bad.
The current loans have defaulted to an interest rate of 22%. The play here for me was and is for the company to wash through the current short term convertible debt, place new financing with a restriction of 180 days, and wait for "black Sands" news et al. That's my gig though.
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