The concept is first rate. The management is solid on paper, but Parsi lacks the experience and polish required to be a CEO. The good news is that he is learning, the bad news is that he is learning at shareholders' expense, such as the dangers of accepting toxic money.
The question every investor must ask is whether they care more about the concept or the management. You're not going to find a great concept with a great management team trading for .02/share. But, one can oftentimes overcome the other, and sometimes, bad management can become good and a good concept can become stale.
What Parsi needs is money. He's hoping the shareholders themselves will give it to him. I am skeptical this plan will work, and what often happens next is those unsubscribed shares are dumped into the open market. So I do expect there be dilution up to around 300M OS.
If you are willing to buy and hold there is some money to be made here, I think.
