Pretty Much Right
The general consensus was that there was/is no dilution. This was the montra during the run. Supported even from an SA blog, I believe. It was also claimed that the Company stated there would be no dilutive financing. So that was interpreted as in none at all. But things can change, and also be misinterpreted via the "Safe Harbor + Forward-Looking Statements" clause.
I'm sure it is possible that some may say: "Well I knew that all along". Or, "It's baked into the price now", etc. But I would view that as an attempt to discount something that wasn't originally accepted, counted on, or factored in at all. Or possibly just ignored for the sake of getting as much out of a run as possible.
EOM
