Oh Lordy. Give me strength. It’s not “diluted” per se. the company is following the PLANNED conversion of debt from debt to equity which is good. When there is no debt the balance sheet will inform a much higher share price. There will be 900m shares in about 3 months. Then the price will go (gradually) back up as the “apparent” imbalance between sellers and buyers is gone.
This is all in the documentation. No one should buy not having read that. So don’t complain when they do what they said they would. (Yes it was more than annoying that they didn’t do the name change).
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