Dilution soon to follow!
According to the deal the following dilution will occur:
1. $5,000,000 at 5/16 (0.3164) yielding 15,802,781 shares
2. $2,500,000 at 5/8 (0.6324) yeilding 3,953,194 shares
3. $2,500,000 at 1 1/4 (1.265) yielding 1,976,284 shares
The funding for $10,000,000 shares will increase the number of shares by 21,732,259!!!!! I do not believe $10,000,000 will be sufficent to fund this company through phase III. Also it looks like only a small part of the $10 million is committed.
What is interesting is Waite and See, I believe, are using the proceeds from selling HVSF between $9 and $3 to fund the investment. If this is true, us shareholders who lost money have actually funded yhishis new investment. This also means that Waite and See have found a machine that just prints money for them, HVSF. The money comes from suckers who invest in a company with no revenue, a handful of employees, and army of promoters and investor relations resources, and a dream.
As far as a new partner, this company announced in a press release that they were negotiating with more than one partner over a year ago. The press release stated that a contract would be signed in 60 days. We never heard about a partner since.
Just because the stock goes up, this does not mean the fundamentals have changed!!!!
RAP, a former sucker |
