Yes that is true however there was also no trading volume for the most part
and there was only 400 million shares issue.
with another 600 million - 800 million in convertible shares.
the reason for the issuing of more shares was do to either the company or the investor wanting to convert those shares.
the adding of those shares is not what cause the stock to drop
it was the slowness of getting the FDA Test that made the stock drop.
some want to think is was the adding of the share.
the last 1 billion share were sold as convertible shares at i believe mostly .0001 which only = 100,000 not the millions they claim were scam. there were no million to scam.