JB and ZJMY Holding Co (JBZY)

[Manti]

It appears the 12.5M shares were issued to service old debt that could only be paid with shares. In my book, that's dilution, but not NEW dilution that could have been avoided. Part of the cleanup of the old shell.

It also appears that the debt is being used to help maintain control of the company, as it keeps a large chunk of shares in the hands of just 2 people.