I really don't think dilution will be a problem here. Yes some shares were sold and the O/S may be 290 to 300m still only 40% of the A/S. spongy ate up the A/S. Once the acquisitions are in the fold all other problems will go away (IMO).
I've got to believe that Dean is working at a hurried pace to get this done. I've missed deadlines due to circumstances but always tried to get it done as close to the deadline target date as possible. I don't think too much time will pass before the four entities can get together.