the bar is open and the bar has been raised, page-46

So let me get this right. We now view KAB sp as going nowhere but the market cap will continue to go up due to dilution and that satisfies us?

So when the vendor shares of 24mil get issued, even if sp falls we can be happy because market cap will go up from more shares on issue.

So our investment criteria should be to find companies that constantly raise funds even if sp goes nowhere? Reminds me of ISN. About $70mil in accrued losses but market cap fairly stable. Everytime the money goes they just issue more shares.