It's just a regular, plain-old scam. The "give me your money and I will make you rich because I am going to (fill in the blank here, anything sounding sexy will do)" kind of thing.
An honest person would have to work really hard to accomplish absolutely nothing but spend $12M in shareholder money in 9 years.
I have no humble opinions, but I do have opinions and those are what I express in my posts. BUT...I have been wrong before and likely will be wrong again so do your own research and don't blame me if you are too lazy to do so.