If I'm not mistaken, the O/S did increase from 621 million to 798 million over the summer. During that time however, all assets of Punch TV were purchased, and production has started on several shows.
I'm also thinking 130 million of those shares were given to the CEO of Punch, and are restricted.
IMO, a very wise use of shares to add value to ICPA.
This is why it was/is/and will be, foolish to listen to the dilution mantra here, even though it will still be posted from time to time.
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