I have trouble understanding the number of shares as a factor in terms. In the extremes, yes. I've seen many penny stocks with Billions of shares issued. We're not there. 156M is big but not insane.
So, to me, why is a potential investor more interested at 2 Million outstanding than they are at 156M outstanding, all other things being equal? I don't get that. But then again, I'm not an expert in that area.
Also, if OW expects big news in the next 6-9 months, why on earth would they raise capital between now and then? That'd be insane. Literally. Get the valuation up to 20-50M and THEN do the RS. Then we're talking.
What's that news? No idea. But hope springs eternal ;)
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