You obviously missed the point. Dilution OBVIOUSLY isn't considered debt literally. and OBVIOUSLY the outstanding share number doesn't matter...they can still be listed with trillions of shares. Neither of those will allow a business to move forward as they want to though. If they are diluting now, those shares will eventually have to go somewhere. Either they do a RS and really hurt the ROI of all of our money or they will need to buy back shares. A buyback is obviously the best option and in turn, should be considered a debt because they will eventually have to do something about it. It's like a loan, only not,