Well yes, the company is more diluted now than it was previously before the last CR. My point isn’t about when exactly those CRs were in relation to SP increases, more that any increase now is in the context of a lower SP starting point and more dilution over a long period of time (and there will be more if there’s another iCR).
Don’t know why you’re so focused on nitpicking - surely if you’re as smart as you seem to think you are, you will appreciate the bigger picture - which is SP increases on positive trial data get progressively more meaningless if we are increasing off a lower base and more shares are being added to the register. I for one won’t be too excited if the SP rises 300% for example off 4c…just for the cycle to repeat itself.
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