Another Relative Plus for VMDI see Protech just diluted the shareholders even more with a debenture. VMD was able to grow the company by 39% last year with no dilution and in fact, bought back some shares (reverse of dilution). Clearly, Protech couldn't get a business loan from the banks so it lead to the debenture issue. VMD was able to secure a line of credit. In the end, Protech should still do fine, but I like the relative business fundamentals with VMD much better.