Absolutely. Companies in dilution mode don't cut the AS, they increase it. Not to forget insiders own 62% of the OS. Insiders will lose big time if they are planning on diluting the stock and lowering the PPS. By doing so, they will be shooting in the foot. Makes no rationale sense.
So that's why they cut the AS in half right? If they planned on diluting it to the hilt like so many I don't think they would be doing that.