Yes thats true, but they have been in business for 13 years and the OS is still 132 million, and no RS ever. Forget the OTC mentality, this doesn't apply here! There is no abuse whatsoever, and I really don't see any need for fear of dilution when they have more than $4 million cash on hand, which provides them with enough liquidity to pay for all their operating costs for 12 to 18 months. There's also only $360k in liabilities, so there is no danger from that side too to see dilution. 95% of OTC's are plain junk, but this one isn't. Very decently run company. & yes, they do exist!
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