First of all slopak I own nearly 2 million shares and never sold any of them. When I write about the potential of a reverse split, I am giving my opinion based on my experiences with penny stocks that faced very similar circumstances. I firmly believe that all investors need to face an ever growing reality that an r/s will in all likelihood play out here because we have a company with massive dilution that cannot survive without selling tens of millions of stock on a weekly basis. Not talking about it won't make it go away. And frankly current shareholders should be upset that the CEO has yet to date been able to obtain a single financing deal. And how many years has it been now? Siegel keeps telling folks that a financing deal is in the works, but it never materializes and the dilution gets larger and larger. And I'm telling everyone with all due respect that the current massive amount of dilution (with more to come) will pay a dear price for current holder. I stopped buying when I first saw how the O/S started ballooning. I previously put $10's of thousands of dollars in another penny stock and accumulated 15 million shares. It was in a company that had big revenue potential and contracts looming. It had over 1 Billions Shares Outstanding. The company did a 100 for 1 r/s to get from approx. .0005 to .05. Sellers came in and drove it down to where my SP on my remaining 15K shares (after split) is now around .005.
So all I am trying to do here is do my best to inform the rest of my fellow holders of what I believe they will be facing when the effects of this dilution starts playing out. I hoped this start a dialogue on the subject matter. All opinions positive and negative are welcome. And all points of view should be welcome if this is to be a real discussion forum. JMHO.
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