I assume there will be further dilution of GOIG. It was a hypothetical comment that there wouldn't be further dilution and just to illustrate my point.
Actually I don't think the dilution will be needle changing (not 2-3 times current o/s) before GOIG hits bottom. The dilution damage has already occured (collapse of share price (95% down from the high) and collapse in investor confidence). The only people that can play GOIG with confidence are shorts and hourly traders (of which I aspire to be neither).