Again, Magnifind, on its own, showed ~$1K a year for 2018 & 2019 so that is not tied to the old MDIN. It's whole business consists of a website that has been unable to attract any meaningful growth since its inception in 2016. That's where this all started from in the first place.
The S1 absolutely has to do with MDIN wanting to sell shares in an attempt to raise money to grow the company. It's even spelled out where they intend to spend the money should they be successful in selling the shares.
Remember that there are two parts to it. The company offering 250 Billion (Primary) and the lender with another 750 Billion (Secondary) are essentially competing with each other to sell as many shares as they can before the registration expires.
I don't think I'd call the $343K worth of notes held by the lender barely anything, as it ends up meaning a lot of shares get issued.
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