Not 6m - 5,709,927 new shares. To compensate for $1,070,363 USD for the 03.02.2021 Form D PPM and correlating finders fee. Math works out to around ~ 0.1875/share, but that of course ignores proper accounting with regards to how the finders fee was paid. It's not relevant.
Management doesn't get any equity grants until mv/mc is at 100m USD.
Finally, there is a difference between restricted and reserved shares. Reserving shares doesn't need to be disclosed - that's internal accounting for operations. I see no lie in KOANs tweet regarding those shares.
KOAN looks great to me.