You are asking this question because you think on-cash losses making up a good sized portion of the massive $45M accumulated deficit somehow makes this a better investment.
It doesn't.
The share price proves it. It's exactly all that dilution and non-cash crap buried in the $45M of losses that has been pummeling this stock for years. I apologize to those who I was unable to convince earlier. All of this was very predictable.
People will say it's not illegal or unethical because it was all in the filings. I am not a lawyer so I don't know about that.
But the fact that all of this was in the filings does show one thing: Shareholders got screwed over by design. Part of the plan was screwing you over to make the people who own this and the notes rich. They already got rich: This is the part where you get screwed.