We are talking about when they purchased Avanzar past year, when there was tons of dilution. The share structure is pretty much maxed out til the 14c is effective, but it will be needed to acquire any new brands afterwards.
The market cap is extremely low here. Not much risk investing money here at this level IMO. The PPS is hovering just above the 52w low. It won't take much to bring MINE back to life.