Uhhh no its not... dilution is when shares are sold into the market by 3rd party and thur free trading...
Pick a stock and read the Q you will see where they say they may have to use equity shares to rasis capital and this in turn will cause dilution...
I am amazed at how anyone can trade at this level and not know that just becuase a company itself is not selling shares on the open market that its not dilution... it is dilution simple as that.