As I recall, before the reverse split, the statement made in the shareholders letter was that the need to increase the AS would be drastically reduce.
The Increase in the AS has been drastically reduced compared to what it use to be.
That is the only commitment I have read about. I could be wrong but you might want to revisit that SHL.
Companies sell shares to operate. To not expect that to happen in a start up company is not a realistic expectation. Unexpected situations and opportunities do arise where shares need to be sold for additional capital.
The company does't need shareholders approval to do that. New share offerings happen all the time in the tech and biotech world without shareholder approval. Why would NTEK operate any differently ?
We don't run the company. We invest in a company with the hope that management is taking all of the right steps to move to profitability. When shareholders lose confidence, they pull their money.
As the company gets closer to maintaining sustainable profits the need to increase the AS should be less and less.
If there was a huge increase (like back into the billions of shares) that might be a cause for concern.