Coach, Mphase management had billions of shares pre split.... The current A/S is 500 million.... They did some shady things with warrants for sure though....
It’s common place to NOT change the AS post split in the OTC because companies typically dilute like crazy immediately after.
But I agree w/ your post - it's absolutely CLEAR what Anhsu's intentions are going forward: Massive additional DILUTION, regardless of how it works out for the company or shareholders.
He just doesn't know any other way unfortunately; His business methods require constant external-financing.
He's unable to grow cash-flow organically because he chases the most-competitive & lowest-margin businesses out there: retail foods & snacks.