[trepanne]

Selling stock doesn't impact the income statement; it is NOT revenue. It is capital raised. Your series of transactions would net to debit expense $1B, credit equity capital $1B. It would definitely fuck up your earnings, as it should.

Stock compensation is compensation and should be expensed. It's not just GAAP, it is plain common sense.

The dilutive effect on EPS isn't any kind of double-counting. It's just a proper accounting for the way the shareholders are constantly bleeding value to sustain normal operations.