RE:Why so many shares?I think one factor was the "cleanup" they had to perform when the RTO was complete; quite a bit was issued due to that.
The rest was in an effort to play "catch up" to the other market leaders (warrants+debentures leading to dilution); you could argue it doesn't matter much in the long run but you could also argue that the journey to now was at the expense of the common shareholder (and you'd be right).
I think what anyone can hope for is that when the industry is more mature, that there will be a concerted effort at buyback, but I think it'll be a while before that happens.
Until then, all you can do is hop on for the ride and just hope that the wheels don't get chipped-away at by more dilution (we can only hope).