Sly -- remember the noteholder has 175M shares at .0001 so he can give stock away and still make money. At 30s its a 3000% flip. Also there is a grab on 50% of the float although they don't have the low value flip options. So when you see the cheaps give up on low numbers it is tough to hold up the floor.
Finally, CEO Josh has strung us along for 18 months while the B&D crew ate up the numbers. IF you compare the financials from 06 & 09 you will see the bleed. Be sure to do your DD on all the stakeholders.