That makes no sense; all the reasons Kay gave for

That makes no sense; all the reasons Kay gave for doing the R/S equally demand a proportionate reduction in the AS. Otherwise, the threat of continued dilution by billions of shares is equally abhorrent to potential investors. And if we hear he doesn’t have any specific intention to issue more shares, we will know how to interpret that NOW.... it will mean he plans to dilute us to zero value... IN THE NEAR FUTURE.