Shares On Issue/Dilution

@Verily1 Hello V,

A while back I was suggested on some reading material. While the book by Kemp is ordered and on its way I'm reading online.

Could you please weigh in on something I read on GoldNerds, when narrowing down on potential companies to invest in:

"How many listed shares do they have? (low share price, high number of shares can be indicative of significant past dilution)"

For this discussion I found the ADV has approx 2 billion SOI and a MC of 28.

Now my question - is there a number I must have in mind when looking at SOI? If the SOI is greater than X I should walk away.