They could have? Keep in mind valuation. If they flooded the market with a ton of shares, the sp would never have gone as high as it did.
As it is, the mc of this non-revenue producing company is already around $9M.
If they double the O/S, do you think a mc of $18M would be justified? With no revenues to support it?
I just think reason should indicate that, as a trading vehicle, a little caution is in order here at this point.