No it`s not a 50% dilution. These are authorized shares only. They are not in the float.
EDIG has had 200 million shares authorized since I`ve owned it I think (6 years) and still has not issued all of them...and that`s been through the worst of times.
Issuing shares to raise money is what public companies are all about. Hopefully you are raising capital to ``capitalize`` on an opportunity, such as getting a product to market quickly which will grow the business.
It would be irresponsible for management to have not extended the authorized share count in order to be prepared for what ever need presents itself.