I don't see it that way. My understanding (which could be very wrong, of course) is that they wanted to get the float down. Also, if they wanted to raise cash they could just sell shares on the open market, either before or after the releases. Also, Ron and Paul know that in order for PBLS to make 'blockbuster' deals, they need to have a much higher share price. They also know that if they want to personally have holdings in the hundreds of millions- 1/2 billion dollar range, they need a much higher share price. They are also smart enough to know that they need more investors to increase demand which causes an increase in share price and they are smart enough to know that in order to do that, they need to be considered as a 'real' company that is transparent, dynamic and growing and not just another pinky trying to pull a fast one by selling shares behind the shareholders back. They are smart enough to realize that what might have been acceptable (or necessary) a few years ago is not acceptable for where they are now and WHERE THEY WANT TO BE IN THE FUTURE.
Just my humble opinion, of course, but I sure hope I'm right!