Hypothetically speaking and companies who go to EM take a long time if ever to return to an exchange. So other than being absolutely stuck while on EM, your theory of shareholders being safe is no dilution and a R/S. I'd rather them screw me now than have me wait almost a year just to continue diluting and R/S anyway. But hey Seamus really can't afford to go to EM. So we are all bored making moot points....