You have no proof that dilution has slowed...contrary to your spreadsheet...
I have unaudited fins that shows the money obtained from stock, which is a lot more than you have. What's your proof that dilution has increased in the second half of the year over the first or even in the first qtr of this year? It's impossible to increase high enough without exceeding the AS, something I don't believe BW will do a second time. What's your proof that he has?
TA is gagged so your statement is 100% incorrect or speculation at best...
There are many reasons a TA is gagged and all have been discussed ad nauseum here. Each can chose to believe whatever scenario they wish.
B.T.W. a gagged TA resents dilution is the investment strategy book....
That book is not an authoritative source for anything, just some investors thoughts on paper. So prove the TA was gagged to dilute? Otherwise it's just speculation.
In the absence of that which is not, that which is, is not.