Brian, I suspect where he's coming from is that IF the BoD saw something coming along the lines of an organized effort by a few to acquire shares for the primary purpose of unseating them from their positions, they could easily thwart the action by issuing some or all of the already-authorized shares (100M) - hence dilution. That's my best guess anyway. And IMO, he's right, assuming the BoD is as nasty as some suggest.

SGE