Put it this way, the CEO has the power to spend beyond her...

Put it this way, the CEO has the power to spend beyond her company means, at the growth of ~20% each quarter, the shares not getting diluted.

Now the shares being diluted, money raised to increase inventory etc, shareholders are hopefully for more robust and faster growth rate.

So the point is, the CEO can sit on her comfort zone... but she didnt. Only regretted thing is that she is offering those shares at such a discount, to whom? Will it create synergistic strategy for our market expansion?