Asberry 22 Holdings Inc (ASHI)

[bernardsamuel]

Malvern, I think we may differ on the nature of dilution, and that's OK (this is not about a fact, but rather about opinions, and this is not a zero-sum game in which either of us has to be right for the other to be wrong). Please bear with me for a moment, and I'll even stipulate that I'm often a fool even if I'm not intending to play the part.

I believe that dilution has a more complex and nuanced meaning beyond just issuing stock which has been authorized for issuance. Dilution, I believe, occurs when the stock which is issued is not issued for sufficient value to the company in return. So if VHUB were to issue additional shares at a tenth of a cent at the moment, that would clearly be dilutive.

However, if the company were to reduce its most expensive debt via the issuance of stock to prepay/pay that debt, this might or might not be dilutive. In general, I believe that well-managed companies aim to maintain a certain debt-equity ratio, and that being "all debt" is viewed as too risky and being "all equity" is viewed as not being willing to take reasonable risks.

In particular, I view that part of the increase in authorized stock to allow for incentive programs for management and directors to be non-dilutive in principle, though we need to learn how the incentives will work in order to reach our own conclusions as to whether this is dilutive in fact or not.

Thanks for your patience with me!