AU,

While you might think that whether its 15 or 22 is of no consequence to we longs, I beg to differ. Everytime the stock is diluted whether minimally or substantially the eventual huge pie gets divided up in ever smaller pieces, thats the reality. I for one was envisioning huge gains back when I first got involved with MNKD, but the CRL's and all the subsequent need for additional capital has tempered my hopes. Frankly I expect some more dilution before we are through and yes this dilution will have a material impact on what our shares are ultimately worth.