Ever since the P2 Debacle,every time King and Company uses the ATM it would be considered an ABUSE. After the P3 Failure, it would be considered rampant abuse of the ATM.
Stupid stumbling decisions made by the Management Team does not make the use the the ATM valid.
A Ponzi scheme is a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned through legitimate sources.