I'd like to agree with you, since I think the share issuance was a terrible decision that turned into a blunderous debacle of epic proportions. However, the shares issued were for BVIG/KATG and, in and of themselves, did not dilute (or reduce) the value of the current KATX shares.
What it DID do, though, is take any value whatsoever that HC has and ripped it away from KATX shareholders....essentially crashing the share price. If RR doesn't come thru soon, then ppl will continue to hold a stock that is intrinsically worthless. .......rule