The problem is that nobody wants Mannkind's stock--so what difference does it make if BA returns 9M shares? If it was merely the case that Mannkind could solve this problem with issuing stock, that could have been done by August 15th.
What Mr. Pile fails to tell his readers is that the debt holders converted when the price was double the current price. They converted and immediately sold their shares, same as the insiders, so instead of helping the situation they dumped shares into the market driving the price down. This debt holder files a quarterly report showing their holdings, Mannkind doesn't show up on their reports as for them owning one share of Mannkind's stock. As for the insiders dumping, that is public knowledge for any investor---they sure didn't mind selling when the price was double today's price. With todays announcement all Mannkind has done is load the cannon for the next dilution by debt holders locking in their profits, once again. For once the regular investors need an opportunity to make money--to date it has only been debt holders and Mannkind executives. At least throw the little guy a few crumbs, IMO! This story isn't unfolding in any manner that is good for the small investor.