Before the 1 for 80 reverse split there was over 1.5 Billion shares outstanding. The huge AS share count was in my opinion caused during the restructuring that occurred between 2009-2011. The Company was deeply in debt to the tune of $18 Million and was virtually BK except for the fact that they had a great product (SURGEX). The Company crunched the debt 2 times during that period converting debt into equity ( OVER 91% of Secured Debt and Over 85% of unsecured Debt) ; with the last restructuring completed in Sept 2011 along with a 1-80 reverse split. The AS before the split was 2 Billion shares and that never number changed after the reverse split. As Crookedneck in his talk with the new CEO was told ; dilution is not the aim now since the restructuring was completed. It is shareholder value that is foremost; revenue building and market share that is the focus. I am extremely pleased to see that Michael James is taking advantage of the New Jersey NJEDA Tax Certifate Program which netted the Company $2.2 Million in Jan 2013 (Non Dilutive Funds) and potentially $3-$5 Million to come (NON DILUTIVE FUNDS).
I am not complaining. I am simply passing on the info as someone on this board earlier asked why there is not much more volume and new buyers coming in on this great 10 bagger opportunity. THought this piece of information would be interesting to you all. 2 billion AS is definitely an issue for people looking at the 10Q. I hope with the next 10Q, new buyers will come in. Be happy you're not like me and down 32% on this investment from May. The fear of dilution is an issue even if it will never happen and CEO assures you in phone conversations. Hopefully, I make my losses back and more very soon. Like you all I want this stock to the moon.
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