The "market cap" mind set is really an ASX thing, NA investors...

The "market cap" mind set is really an ASX thing, NA investors are focused on shares outstanding and view CR's as dilutive to shareholder value.
Investors on the TSXv turn their nose up at companies with more than a 100m shares out. That being said lots of companies issue issue then consolidate so their float comes down and share price goes up - rinse repeat. Easier to attract institutional investors at 40 cents vs 4 cents

Just my thoughts.

MicroCapClub@MicroCapClub·22h“Dilution is the subtle erosion of ownership. This hidden, persistent addition of new supply of shares leaves shareholders with less and less of the company’s value. Dilution, like inflation, is a silent killer of returns.”