All my valuations on MJNA are based off the 900 million shares authorized. I'm actually happy that they still have 100 million shares left to raise $35 million of equity to continue to expand.
I'm curious if these are private transactions or are they selling these into the open market. I would be concerned more if these were private transaction being executed at steep discounts. That would be dilution that shareholders should be concerned about.
It's normal for a company to raise equity when expanding. Any real investor should expect it. I don't know why you are surprised or worried. I see this as good news.