Dilution.
Let's say a company like JMCP doubles the O/S, and at .0001 raises 2.5 million dollars, but buys an asset worth 10 million. The comapny's net asset value per share would have doubled, after dilution.
The same would hold true for dilution dollars used to fund a start up operation, like building ethanol plants. We need to look at the revenue created by the funds gained form dilution.
I draw a big distinction between this, and a company like CNES,and DDSI, who fund daily cash operating shortfalls, and owners salaries with dilution
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