Your making assumptions that he is going to continue to dilute big blocks. How about he takes the 5 million in cash and buys another asset for 660K and sells that for 5 million. You now have re-accuring revenue, and did not have to go to the market for financing. So many positives to this deal, and possible another.
All public companies use shares to grow their company, it's why they go public.
Shares for assets at a 10x multiplier is always a good thing.
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