You have to be kidding? This is one sorry excuse for a company.
from their most recent 10q
As reflected in the accompanying unaudited interim consolidated financial statements, the Company had a net loss of $15,927,426 for the nine months ended September 30, 2012 and a working capital deficit and stockholders’ deficit of $9,114,226 and $7,297,593 respectively, at September 30, 2012. These factors raise substantial doubt about the Company’s ability to continue as a going concern.
Also the share structure is utterly ridiculous. How many different classes of preferred shares do they need? Plus I see they just authorised a 4th class of preferred shares.
Talk aobut dilution. OMG! 1.6 BILLION shares diluted since the beginning of the year. WOW.
This has to be one of the worst financial reports I have ever seen Bankruptcy imminent.