If he'd had a brain, he'd have issued himself preferred with super voting rights. Of course that has its own disadvantages, but at least it'd have kept the o/s down.
I don't think he really cares. It wasn't all that dumb a move: he was able to unload hundreds of billions of shares without doing any damage to stock price, back when it was stuck at 0.0001. Good for Urbie, though not necessarily good for CMKX.
doesn't he have to do this to maintain control? (I'm thinking this 100 billion plus whatever other folks in his inner circle own?)