the key is understanding how much more the company can dillute. O/S should be a majority of the A/S. but remember in pink sheets, they can increase the A/S in a few short period of time. knowing if the transfer agent is ungagged is important. if he is ungagged, you can easily get answers to the share structure.
one stock i looked at tonight is RNWF. trading in the double zero's now , about 2 years ago was trading just under a dollar. im sure it was dilluted , but i didnt find the current share structure. while the O/S and float looks beautiful, notice the A/S is ridiculously high (plenty of room for dillution = less room for growth).
SHARE STRUCTURE (8/3/07)
* 3B Authorized
* 27,488,705 Outstanding
7.6M Float
* per World Wide Stock Transfer
Phone: (201) 357-8650