When you compare the ATM program with the Regulation A program, there is far less shares that would be issued to raise funds.
The Regulation A program offered shares plus 2 traunches of options. Example: 10,000 shares bought would also give you 10,000 options at the same price...plus another traunch of 10,000 options at 50 cents higher price.
The ATM program simply sells shares on the open market...with no options issued...and therefore no additional dilution.
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