in my understanding, 200.5 million shares approximately is what the company have as outstanding shares, 100m was issued to the owners of the patent of the technology they are going to use for the urea manufacturing which BION has exclusive rights to use; remember? the other 100m shares was issued to a note holder to aprt pay a loan owed by the previous company before BION reversed into it. these shares had clauses attached to it and also locked in for certain period. a quarter of the stock have matured from the lock in period and "possibly sold or still being held" by the owner ( don't ask me for further details, as i do not know). When the new management found that the conditions for issung those shares were not fulfilled as agreed, hence the reason to apply to rollback the 75m shares (i supposed) by 300 for 1 which will mean the the noteholder's 75m shares could become just 250k shares if successfully complete but it is a process that is on going (you can bet the noteholder is unhappy but there is nothing he/she/they can do). i hope that helps. all those "going concern" stuff is normal in company's quarterly/annual report(s). for BION, that is why my focus is on the Management discussion and analyses section. my investing in BION is about the future not the present as there is "nothing" presently to invest in any company that is not revenue generating but ifany company has a good plan, the potential of executing it the plan to the point of generating revenue, then the reward may well be worth the high risk tag such a company may carry IMO. please note: these are just my understanding/perception of things
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