They have been selling shares periodically for 10 years now. The company would not exist if they didn't do this. I suspect the price I will get someday when I sell (on news of CYGX being acquired) will exceed today's price, with or without issuance of new shares. That is my only benchmark.
It sure beats debt, if you ask me. They have a strong aversion to debt - I specifically asked about debt, and they said they have never needed it, and hope they never need to borrow in the future.