Dilution is happening. It's always the issue. All companies sell shares to raise capital. All companies enrich the insider. So it is a spectrum. Scams just sell shares and don't offer anything and are just insider enrichment schemes. Beyond total scams, companies will vary as to how "fair" they are with the common shareholder. Jan's letter came out because we were raging about notes over past weekend and it was his way of subtly answering those concerns. Vigilance concerning "fair" dilution is good. Thanks for staying on it.