1. authorizing the shares dilutes the share price, whether they are issued or not. kind of like how all your credit card credit lines count against your credit-worthiness even if you are carrying zero balances on each of them...
2. doing it at this low current share price is almost cruel considering all the prior proclamations of great shareholder value right around the corner
3. it's an invitation to wall street sharks to continue to 'play' the issue behind the scenes and profit on the uninformed moves of ignorant retail investors who typically don't see financial shenanigans coming because they're only paying attention to the science
every time shares have been authorized to undercut current investors. why wouldn't we think it will be done again shortly?
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