You can see there's next to no dilution over a multi-year period for AMCF. O/S increased from 9.52M in 2010 to 9.86M in 2013 (see links below). http://globenewswire.com/news-release/2013/11/14/590099/10058051/en/Andatee-China-Marine-Fuel-Services-Reports-Third-Quarter-Financial-Results.html http://www.google.com/finance?q=NASDAQ%3AAMCF&fstype=ii&ei=QcKoUpjgB9O60AH3fQ