Could be, but then again, scams can return some nice profits. After all, this is the penny market, and probably 90% of these stocks are scams to some extent.
Scam yes...but what I generally want to know is how much dilution is going to occur, and whether it will get worse with each PR? Some companies run their scams for a longer period of time. FHAL/CSHD, for example, ran quite a long time, and gave many traders the opportunity to profit. GHTI, on the other hand, was over in a few days.
I know this sounds cynical, but my pov is that we can trade these stocks, but we have to keep our eyes open, and not believe the BS so that we don't get caught holding if/when the SEC slams the door.
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If you take anything I say as advice, you're crazier than I am.