We effectively probably have less than 134 million shares left. Another offering is in the works and if fully subscribed would amount to 107 million shares, and may still leave us with debt outstanding.

Plus we owe Fife over $30 million worth of shares and are required to give him monthly allotments, which have tended to be around $2-3 million worth each month, around 10 million shares every month. I believe only 12 million of those are included in the calculation of 134 million left.

So you see why a licensing deal is crucial to cut or stop the dilution and pay as many bills as possible with cash. Otherwise, another increase of authorized shares or, god forbid, reverse split (sorry to mention it) will likely be in the cards, pending a shareholder vote of course.