this means APDN will be selling stocks warrants etc., for the total amount of 25M, you and other shareholders will be diluted by about 40% because current market cap is ~65M and additional 25M is right about 40%...the worst part is company will not tell you when/how much was sold, you probably will find that out in quarterly reports, this shelf registration is a trick to avoid secondary offerings every time you run out of cash, you just do it one time via shelf registration and then keep selling shares as you see fit, for example they can dump 10M this week, then another 10M in 6months and another 5M 9months from now...