I'll go to the pm as soon as I can, but I'll try and answer you here first. They'll only dole out what they absolutely have to in order to cover what they can't using cash. The shares are available but will most likely be used as wisely as possible. Remember, they don't want any more dilution than that which they can't avoid. When the stock is running up, they can also raise some cash to fund expansion efforts. Sales growth will hopefully increase at a fast enough pace to not only make dilution a thing of the past as a means to settle payment obligations, but also to produce enough net profit so that share structure can be maintained at an ideal balance, used when needed to offset unusual/one time expenses or the cost of pursuing major growth opportunities that actually make the temporary increase in outstanding shares a very worthwhile investment that can prove lucrative enough to far outweigh the dilution, resulting in increased earnings per share.