Not only that, he did the 50:1 to leave PLENTY of room for future dilution after a R/M. It is obvious he did not do it to start a pink ATM machine, or he would have done it long ago. The shell has been prepared well, it just needs to get filled. I think it will be filled soon.
Obviously everyone agrees with us, or they wouldn't be holding 12,000,000+ shares for so long.