Holy smokes, I wouldn't worry about dilution from any share conversions. I watched the Rodman presentation and as of the end of 2009, they only had 30 million in cash. That means right now they probably have around 22-24 million. Yahoo has it wrong, they show that INO had 43 million as of the end of 2009. The odds of a near term, meaning in the next 2-3 months, financing is now virtually certain. Hopefuly they will keep it small due to the share price. But I am pretty sure they would raise 15 million, which is at least another 15 million shares in dilution or 15%. I had no idea Yahoo was off by 25%. I wonder where they got that number.
Anyway, for their sake, they had better raise money soon. I think the overall market may take a dump. If they raise money, the share price will probably drop to around a buck. If the market takes a dump after that, INO could be in the $.50 area again.
It will be interesting to see how the next couple months plays out.