Not happy at all!
Total shares outstanding :39,853,431
Market cap :2,191,884
If we go back to their previous financing they have done over $1, than 0.50, announcing for 0.20 but did 2M financing at 0.10 in August. Now they need another 5.3M but seems like they can not find at 0.10 cents. Hopefully they find 5.3M even at 0.05 cents at current share price.
If they do new financing at 0.05, they have to issue 110M shares. After financing company will have almost 150M shares outstanding. In that case we might have another riverse split in 2018 when company need more money.
If we take current market cap with 150M outstanding shares, share price will be around 0.015 cents.
Hopefully we don't hit that low bottom.
They must have to put news inregards to what is going on with 5.3M financing.