I would rate the news as a 'C', as it contains absolutely nothing we didn't already know.  I'm actually a bit discouraged right now as I don't like the idea of there being 3 billion common shares floating around.  If my assumptions are correct the common share float increased by over 11 times from 2011 to 2012.  No wonder North Cal requested HIMR get their OS under control.  It would be really nice to have around 1 billion common shares outstainding.  If you research other penny companies that are in the .00X range that is where their OS balance is.  IMO too many shares are still outstanding and will give the nay-sayers plenty of ammunition to continue driving the price down.  We need to either have a dramatic reduction in OS, more beneficial owners, or more long-minded investors step up and take some of these shares off the board.

As always, just my .0002 cents worth.