Well, basically, SLTD can issue/sell as many shares as it needs to until it raises the desired amount of cash (up to $50 million), so long as SLTD stays under the billion authorized shares. It can do so all at once, or at multiple times over the course of 3 years.
One interesting thing I didn't realize before, SLTD can sell common shares directly into the market. This is called an "at-the-market" offering. So, who knows, that could have been SLTD selling all those shares yesterday and today via CDEL. If that's the case, I sure like that market-price dilution better than the convertible note type that issues new shares at huge discounts. See the FAQ at pg. 15 http://media.mofo.com/files/Uploads/Images/FAQShelfOfferings.pdf
I'm not 100% certain, but I think I read that once shares are actually offered/priced, SLTD would have to file the update form within 2 days.
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