I think it's more frustrating than disappointing. As I do more research though I think it's to be expected, Fred Luke has probably left more disgruntled shareholders, in his 40 or 50 years in the public markets, than Enron and Worldcom did combined.
Yes they are bringing some volume here, I'll give them credit for that, however, there is no price movement due to the dilution. They are more than happy to let hundreds of thousands of shares go in the .25 range, whats going to happen when/if they do decided to try and move it up..?? There is going too be a ton of overhang who got cheap shares to go through first.
It's just a stupid strategy to do it this way IMO.