RE: Have we been diluted? When a retailer investor buys into a speculative junior such as GPD, you need to realize that ongoing PP are the only way to keep building in the ground equity. The original management and underwriters pay a high price per share to get the ball rolling.
They hedge their bets by putting in the money PP by PP and average down on the IPO price. You should do this too... only put in half your risk capital initially and buy more shares in front of these PPs, to maintain your relative equity and mitigate risk.