If the full 200 million shares are authorized, thi

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If the full 200 million shares are authorized, this is a 25% dilution off a base of 800 million shares

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There are different ways to figure dilution. If you have a pizza with 8 slices and you get 1 slice, that is 12.5% of the pizza. If it's a pizza with 10 slices, you get 10% of the pizza. The slice that's a tenth of the pizza is 80% as big as the slice that is an eighth.

So even if 200 million is 25% of 800 million, the amount that a single share is worth is only diluted by 20%. Ohm, then, is unsurprisingly right when he says 20% is the max dilution.