Right! I'd forgotten... he owns Clean Energy Funding as well as Houston Industrial Materials... And shares were issued, you are right about that.
On the bright side, seems like they've smartened up a bit recently. If you take a look 241,968,911 shares were outstanding as of December 31, 2013, and 253,368,911 as of June 30, 2014.
So they only issued 11.4 million shares in the last 6 months, contrary to their previous extravagance. Hopefully they continue down that road and use the new shares for growth and the overall good of the company. I do still have high hopes for them :)