You ASSUME too much.....
and INCORRECTLY IMO.....
Yes there may be some dilution, and that's fine...but not what you are portraying....As OMO and OTHERS stated MANY and SEVERAL times....terms are VERY GOOD and it's like an IPO....IF NEEDED..they may never NEED it.... or they may use some....but not all...IF CIRQUE uses ALL $5,000,000 then EXPECT PPS to be .05-.10....so it's a BUY at current pps...you are OVERTHINKING a BIT.......YOU and SEVERAL OTHERS caused RETAIL to PANIC SELL YESTERDAY...not your fault...it's always an individual investor decision, but that IS THE TRUTH.
If CIRQUE were to dilute on the scale you are thinking...currently 192 million O/S and 300 A/S then pps will be .05-.10 BEFORE shares hit the market on that scale..
Market Cap is PEANUTS.........adjust accordingly......