there were few shareholders at that time but yes your right but don't forget they were reissued new shares a 1000 times what the original S1 said were issued the date is were many a folk gets mixed up with but not that it matters those shares were lent back to the company in trenches they like to call them and latter as DIPS directors interest payments that were used to underwrite even more shares and as you can see there are billion or more shares outstanding.
it is the dilution through fractional shares issued to these individuals that pays future interest owed often noted in layman terms as dilution.
In the end should you hang on and not trade ones shares everyone would pay the same but why would anyone want to do that my gosh I can't say how crazy that is and to get caught holding the purse for twenty years on a company making a 10% return after depreciation cost is crazy it is why there public companies in the first place so they can be traded.
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