### Comment:
Well they say explicitly  that there will an extreme amount of dilution.  90% potentially if when that lock up expires.  Also, they admit that they will need to incur more debt or equity financing.

### REPLY:
Lockup expiring doesn't dilute, it just increases open float. And it's only negative if locked shares are dumped on the market driving down price. So, it's damn near irrelevant.

### END.