Well said. I think this company has a great product but they are screwing the shareholders with the dilution.
Let's take a look at June next year:
They sign several more partnership agreements, including the armed forces deal. They have 50K subs and are well into profitability, but they issued an additional 5 Billion shares for marketing, acquisitions, and until they broke even: operating expenses.
The shares are still in the sub pennies, but the company is starting to do well. They have 2 options. Reverse split or buyback. Buyback would take forever and cost a TON of money, so they opt to reverse split. New price is $5.00.
Selloff ensues bringing it to $2.00 or so, and since the toxic financing deal is done (and has taken its toll) they can still be listed on a higher exchange.
THIS is when it's time to get into the company. All the current longs will have been severly screwed by the company, but the company is succeeding.
I believe in the long term success of the company, but the stock is bad news until the share structure gets under control. Adding at these levels for a long term play is a very bad decision. Really there are only 2 options. 1) deal with very low pps and a insane share count, or reverse split and lost the majority of your investment.
Cliff notes: I believe in the company, but not the stock.
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