The common float is misleading as they now are diluting Preferred B shares instead of common shares. They are basically almost out of common shares to dilute, so the dilution continues with Preferred B shares, separate from the Cortec shares.
I would be more concerned about the dilution before the Cortec merger shares become free to convert. Once the reverse split happens, we will start seeing other Preferred B conversions taking place and then those common shares will flood the market.
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