QASP issues several PRs about starting buybacks, at the same time they start selling newly issued shares into the market.
There wasn't that much Equus debt. Dean loaned the company $1M (was not included in pinksheet filings). The company also needed funds to purchase a plane, 2 simulators, architect for the new hangar, attorneys for the acquisitions. Not sure why Dean keeps saying they are diluting to pay off Equus debt.
Hopefully he will be transparent with shareholders in the future.