I'm trying to figure out how it can "pass the A/S"? I believe the A/S is the ceiling. In fact, they can't actually get to the A/S because I'm pretty sure they have to set aside stock corresponding to any outstanding options.
Since the dilution issue has been kicked around considerably, I wonder if anyone has witnessed another firm that has taken this path, yet succeeded? Success being defined as bringing product to market, despite the vast share dilution, then redeeming the suffering shareholders through buy-backs and/or share number reductions?
- I have not seen this happen myself, not yet (several years into pinks to date).
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