There are 45,000 shares of preferred stock that will each convert to 8 ordinary shares making an increase in the stock outstanding of 360,000 shares. The current float is eight million. I don't see that this dilution is going to result in any long-term decline in earnings per share. And while we are at it, Wall Street loved the hippie Steve Job's creation i.e. Apple Corp. At various times in the last twelve months it was the most valuable company in the country - based on market cap. Again - you're wrong - sadly wrong.