Fully Diluted

Fully diluted refers to the total number of shares that would be outstanding if all potential sources of dilution were exercised or converted into common shares. It takes into account all potential securities that could be converted into common shares, such as stock options, convertible bonds, or warrants. By considering the maximum potential dilution, the fully diluted share count provides a more comprehensive view of a company's ownership structure and the potential impact on existing shareholders. It helps investors and analysts assess the overall ownership and value of a company, particularly when evaluating the impact of future issuances or conversions of securities.