Right, my second mistake (COGNITIVE first). Shame me.


Yes, I'm sure. Please understand my example. Every time any company in real-life after approve dilution will offer special price old shareholder, every time!

Please read, if you not trust or understand me (my english of course):
http://www.netlawman.co.uk/ia/preventing-share-dilution-right-of-first-offer
http://www.calstartuplawfirm.com/business-lawyer-blog/anti-dilution-provisions.php
http://www.nybusinessdivorce.com/2008/08/articles/corporate-governance/controlling-shareholders-dilution-of-minority-interest-requires-bona-fide-business-purpose/

short article in wiki http://en.wikipedia.org/wiki/Stock_dilution.

I have see 2 diffrent way to solve this problem.
1. Dissallow dilution.
2. Establish a mechanism of special offer for old shareholders. It's posible to make with option. Every old shareholders free recieved option call in rate of number shares they have. And if you (minor or major) want new shares you can excercise it. Then issuer send shares and take cash. It's fair for all: nobody use inside information about date of dillution.