$AUPH let’s clear some facts here, this is an ATM shelf unlike a standard shelf. He could be diluting and you only find out through sure count increases or quarterly filings. Also @IBoesky tells folks here the shelf is needed for converting warrants? How dumb is the guy that he does not understand the difference between shelf and AS ? Peter has enough shares authorized to issue to fulfill (the new shelf, old warrants and employee options). What does that mean in layman terms? Lots of dilution is almost guaranteed. So it sucks long term Bc tutes will buy those shares cheap. Or they short and then cover on that atm cheap. Watch my post get flamed wo any facts to back their claims.