Nobody "deserves" millions of dollars from a $29k debt conversion. That's typical stinky pink "terms" to enrich their insiders. All this crap about EV's and batteries was simply to get some buyers for that stock.
You don't go from $16k in cash and no mention of either in a quarterly, not even a whisper in the subsequent events section (and those reports were submitted in late November, so anything up to that point would be mentioned), to being an EV or a battery company. That's absurd.