Possible target price of $15-20, page-127

I am trying to navigate into the QuadPAy and more specifically what does it means in terms of dilution for exhisting SH.

let's start from November deal with Amazon :

does it mean that if the price is above $4,7, ZIP will need to issue 14M new shares in case the affiliate of Amazon decide to exercise the warrant?

119M shares to Quad Pay sharholders:



5M shares to Quad Pay cofounders


19,3M + 107,500,000 $ in shares assuming $6 avg gives ~18M shares

So if my understanding is correct just IMO IMO at the end of the share printing process the number of shares on the market goes from 372M to 547M which represent 40% dilution form sharholders but set the basis for creating value....just IMO IMO