Has any issuer ever issued securities for no apparent reason? Whether it be to purchase assets, working capital, paint the CEO's sisters house, put the kids in private school, buy a European sports car, take a vacation, buy a boat, purchase a Patek Philippe for the CEO's wrist, buy a Russian girl for the night?
Since the issuer is has financials that are not audited by an independent PCAOB auditor, nobody knows what they are doing.