I do not believe for even a nanosecond that Carnes would give those shares as a dividend. I honestly think he needs those shares to cover. IF (and I do mean IF) he put them out as a dividend, then I think it would only be to pump his own pps up so he could dilute to the point that he would have enough cash to cover his short.
I think little Stevie is in a bad place right now and will step on the throat of anyone that gets in the way. SGLS shareholders should be VERY concerned.