Red Giant Entertainment, Inc. (fka REDG)

[nightowwl]

The Never-Ending REDG Share Dilution

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Why would a company continuously issue millions of shares at sub-penny prices for no apparent reason?

Because it's a scam, that's why.
A share dilution scam happens when a company, typically traded in unregulated markets such as the OTC Bulletin Board and the Pink Sheets, repeatedly issues a massive amount of shares into the market for no particular reason, considerably devaluing share prices until they become almost worthless, causing huge losses to shareholders.

Then, after share prices are at or near the minimum price a stock can trade and the share float has increased to an unsustainable level, those fraudulent companies tend to reverse split and continue repeating the same scheme.

tl;dr: The only people making money with these worthless shares are Benny and the promoters of this stock.