also they have no debt, he also explained very well they don't have the funds yet to do a buy back and rather invest in expanding business than borrow money and do both which I agree, investors will come
Yes, the debt they has was significantly responsible for dilution in the 2009 thru 2011, at least from numbers in the fins. See the column for shares issued for debt reduction in those years, that stopped in 2012.
In the absence of that which is not, that which is, is not.