She’s talking about the smaller financings Generex did in the beginning of the year to get funds into Olaregen to launch Excellagen. It’s not a death spiral, and I’m not aware of any shares even being delivered to date. That’s pittance in the overall package that Gnbt has put together. For her to not give credence to the dividend pool set up by Joe and 3 of his main guys is telling of her agenda. Acquisitions were made via those pooled shares that didn’t bring any dilution to other shareholders. And shareholders also benefit from the retiring of the pooled shares since it helps offset dilution from the coming 1:1 dividend.

https://www.sec.gov/Archives/edgar/data/10597...form8k.htm