BioSante Pharmaceuticals, Inc. (BPAX)

[nutsyprofessor]

It is NOT dilution because of the fact that we will own 47% of the COMBINED company, what don't you understand about this?

Dilution occurs when additional issuance of shares reduces your % ownership of the company's equity.

Biosante reported about $32.3 million in total equity on 9/30/12. It's obvious that the estimated combined equity for the two companies will be on the order of around $68.7 million...therefore, Biosante shareholders will get 47%-49.9% (or $32.3 to $34.3 million of the equity) and ANI shareholders will get 51.1%-53% (or $35.1 to $36.4 million of the equity).

So again, what don't you understand about this simple transaction?