In addition, we have 425.103 shares to "employees and directors". Shouldn't we see SEC filings where the increased share holdings of directors are disclosed?
In Q4-16 CC (around 1:02 into the last slide), Dan answers a question about dillution. He says the market "is confused" about debt->equity financing/dillution vs collateral financing (read: we are stupid).
He says they left this financing 3 years ago. And then: "..the need to use shares for collateral is going to be nominal, almost non existent and we're getting very close to that point every single day"
Well, you here people claiming that they are selling shares every day on this board, so I think his assessment was fair when he said that the market is confused. They have not taken on any new debt with shares as collateral since he made that quote and there is no secret that they still have not closed the loan they are working on.
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