I may be interpreting wrong here, but it looks like the 8-K states that the issued unregistered shares was not affected by the 1:70 R/S. That means the chief executive officers will be diluting the crap out of this puppy. That's how they are getting paid and we are paying the thugs to screw us.
Item 3.02 Unregistered Sales of Equity Securities.
As of the information contained in our last periodic report, we had 96,793,011 shares of our common stock issued and outstanding. Since then and through the date of this Current Report, we have issued the following unregistered securities, the descriptions of which do not reflect our 1-for-70 common stock reverse split that was effective immediately after the close of the markets on August 31, 2012:
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