Lineage Cell Therapeutics Inc (LCTX)

[terry hallinan]

To be clear, the objections are to rapid raise in outstanding share count, with nothing to show for it, where executives / Board members wealth is determined by salaries rather than increase in holding value.

Many ways to skin shareholders. High salaries are not typical of the true con game in my experience.

From Investopedia:

Dilution is a reduction in the ownership percentage of a share of stock caused by the issuance of new shares.

https://www.investopedia.com/terms/d/dilution.asp

There is lots more blather in this presumably authoritative online reference but all would seemingly have gotten you an F from a beloved teach nicknamed Hitler by his adoring students in a two-year college.

I was not remotely a business major ever but I took such courses with my rare specialty at the time under dire threat of extinction. Hitler's point was that an increase in shares can even be anti-dilutive if assets - most notably cash - increase disproportionately greater.

I see no indication that the modern heresies deeming only increase in shares dilutive without considering other assets are ever corrected.

I have no objection whatever to what you wrote but I have had more than one treasured holding destroyed by unhinged cries of dilution!! when an increase in shares was requested to keep the public corporation viable.

I gave an example of this nonsense at the BTX annual meeting I attended in NYCity. A very unhappy shareholder decried the "giveaway" of assets in the genius financing of Mike West that generally exploded cash and other assets without any actual dilution though share counts rose and all without product sales.

Best, Terry