Yes, he will increase dilution and will reverse split, so the stock price can go even lower and he can continue to dilute. He just disclosed, in his paid promotional interview, that a reverse split is possible, even though he mentioned they have no current plans do do so immediately.
Those holding shares may find they can't sell for 1/10th their initial investment. In a year, they may find their investment is worth 1/100th (or less) of what it is worth right now.
Welcome to the world of pink sheet stock promotion and massive dumping of shares at steep discounts for cash to stay afloat a little longer.