Thanks for keeping track of the SS, Howiesjules. T
Post# of 11899
Thanks for keeping track of the SS, Howiesjules. That looks to be a mere 1/20th increase in the O/S (~5%) but something tells me the iScum basher crew will be using that tidbit on which to pound the table for the next few weeks!
At least one possible good side to the dilution is that perhaps if the newly issued shares did go to Ironridge (likely) then maybe they are basically done with getting the shares due them based on the money (~$700) loaned to RFMK in the first part of the funding agreement. I say that because just doing some back of the envelope calculations one can estimate using the 200 DMA ($0.002) as a baseline that the initial issuance of ~143M shares at ~$0.0014 took about $200k off the $700k bill, then perhaps this 90M at ~$0.002 could take off another roughly $200k, so that would leave about $300k but considering there were past dilution events all throughout the last six months, it is conceivable that $300k/$0.002 could have basically been paid off with the issuance of another ~150M and when one sums all those share issuance potentialities we could conclude that a total of say ~383M shares have been issued to Ironridge as part of the first part of the funding deal for $700k; the second part is completely seperate and the deal was for 150 pref shares for $50k/month for appox two years, which makes absolutely no sense for now (need clarification on the Q3 filing, etc). This would mean that if the O/S is ~1.783B now then it was ~1.4B before the Ironridge deal and actually this is not very far off IMO, because remember, in the summer 2012 I believe the restricted share count was at about 345M and the float was at roughly 1B, so that just about accounts for all the shares up to this point, which also means that perhaps indeed Ironridge is done diluting as of today as concerns the first part of the funding deal. Who knows for sure, what we really need is that elusive (audited) 10K!
GLTA
$RFMK