IMO, Asher and kind are short-term venture capitalists providing a unique (short-term) financing strategy to CEOs in critical need, which runs the range of being strategically-risky to outright inept management and shareholder carelessness. Far too many pennies mis-use Ashers' value and shareholders suffer.
Indeed, with Asher financing some 400 pennies, very very few have business models/capital structures that are actually capable of winning at the Asher table. However, for those remaining few company's with the requisite qualities that can/do win in taking the strategic-risk, IMO Asher's money then results to not only have kept the CEO & his investors in the success hunt, but the added dilution also served to enhance ultimate market cap value upon such success (assuming the penny company's business model/capital structure capabilities were such that its market demand merely absorbed the dilution.)