I disagree that the claims are questionable. These business plans take time to execute. That's all. Dilution is part of the process, when this business plan continues to be carried out, dilution (if it is occuring) will be a distant memory. Just hang in there and let it happen.
Looks like you and I are playing "good cop, bad cop". Maybe together we both win. It's just not my nature to belittle anyone and use name calling to accomplish my goal. I've found in business that approach is counterproductive.