He would have had plenty of shares for financing if he had been truthful and not kept inflating the o/s, probably to "consultants," and if he keeps his word that his own hard earned preferred shares are used for financing anyway.
Like I said, he can still salvage this but he's got to work hard and fast. Start with buying up some of the float. The usual fluff crap is out the window, you know "we are proud to announce that our expectations are enhanced by indications that we will likely be in line to interview to sell $150 million in secure balance ...."
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