Hi AG, sadly, after a bit of detective work, I've come to the same conclusion. I've hestitated posting what I've found in. here, as I don't want to be trashed by the bulls but, lets just say that, in my opinion, some of the APDN PR is pure BS, created purely to hike the PPS. Nothing wrong with that I suppose - that's business - but I bought at .21 so you can understand where I'm coming from?
As said last month, I suspect there'll be further dilution towards the middle/end of the year and if the DLA annouce a moratorium whilst they discuss implementation with the Manufactuers, well, Apdn could be history, as their cash burn is being increased, not reduced. $7.5m may sound a lot but its not when you're burning cash at the current rate and they need to generate cash quick - or whither and die. You can stick your mandate because without significant sales, not of licences but commodity, ADNAS will be no more,
I wish everyone well but I'm out ASAP and will watch from the sidelines.