Chris
"Snow, this company probably would not even exist without the share dilution " I see no reason why you are right. Only a small part of the cash flow is provided by the dilution. The alternativwe would have been to abstain from certain activities or introducing them at a later state, for instance the wholesale business, the restaurent business or the export/import business. How much cashflow have those activities contributed so far?
Something may be a very long-term Investment even if the pps grows nicely from year to year. Microsoft would be a good case in point if you go back to the early 1080s.