A company's fiat currency

OTC:MGTI   MGT Capital Investments, Inc
I really like MGTI's story, except for their plan to really dilute their shares by issuing more. It would be better for shareholders if they did stock splits. Even though your share price is reduced accordingly, you have the additional shares to compensate you.

To my understanding, MGTI wants to have at least 200,000,000 shares outstanding. Their website shows they currently have 75,000,000 shares outstanding. Here's my concern:

The outstanding amount seems to vary greatly depending on what website you're on. My brokerage account has them listed as only having (roughly) 48,000,000 shares outstanding. (I'm asking them to verify this.) To make a long story short, this is the amount used to give MGTI its current valuation and stock price of approximately $2.50/share. If the outstanding amount is currently 75 million, this should give MGTI a current valuation/share price of around $1.25/share. If they dilute (by just issuing more) to 200 million shares outstanding - that should give them a valuation of around 25 cents / share?!!

This is my opinion/assessment and it's simplified for the sake of time. If anyone knows more about MGTI's plans for increasing its shares outstanding, or finds any fault with my analysis - let me know.

Please, be blunt but polite. Thank you.