Ann: Half Yearly Report and Accounts , page-7

Interesting point of view himself1, but ill informed.

Without trying to give a lesson in Finance 101, Amount of shares on issue has nothing to do with a value of a company. It is the market capitalisation that matters. If the company had 10 million shares instead of 1 billion the price would be $5 instead of 5c but the market cap of the company would be the same. Earnings would not be any different (roughly 1/10th of market cap on the most recent report).
I am not sure why you think the company will need to issue another billion shares. With the company now profitable and with cash in the bank that will only grow, what possible reason would they have in issuing more shares?
They have in place the ability to grow organically from a low base in both Australia and Korea let alone the other countries they are targeting most notably, China.
The only reason I can see for more capital raisings would be acquisitions and the company would only do that if they think any such acquisition would add greater value than the purchase price.
I hold and look forward to the rerating over time as the market picks up on the fact that PE ratio is now 10 and Earnings look like they can only grow from here.