I think you need to put things in the proper time context.

Those shares were issued before the "no dilution" statement was made.

And "no dilution: wasn't the exact statement. And you are correct, it should not be stated as such..

The way I read the statements from IR as relayed by other shareholders on this board, it was that the company did not expect further dilution because they had investors on and institutional level now.

"No dilution" is perhaps an overstatement or the fact, but if the support from institutional investors statement is true, the odds of additional dilution is significantly less in the short term.

It also appears from, a speculative standpoint, the company has all intentions of becoming profitable before dilution becomes an issue again.

They are in business to make money and a profit, and from IR statements, that is exactly what they intend on trying to do.....

JMHO