But the float isn't max'd out
The float will reach the number of outstanding shares when shares that are "restricted" -- like, I believe, the 265M HDDC shares currently are -- are released to be sold in the open market.
In a fully-reporting company, you would see a filing indicating the intent to sell these shares, perhaps as part of a secondary offering.
The float only concerns me in that a company with a small float can show greater volatility than one with a large float.
Even an increase in outstanding shares isn't a huge issue if the shares are used to make acquisitions that are immediately accretive, and the earnings from that acquisition are enough to offset any drop in calculated EPS due to a greater number of shares, eg. if a company with 700M shares generates $1M in income over the fiscal year, and buys a company for 50M shares that adds $75K to the bottom line, then EPS is unchanged.
So the big question with MJNA is: Can they grow revenue and earnings at a rate faster than they are adding outstanding shares (when they add OS).