Mark is probably doing just fine for himself. The other issue is did he reduce the preferred's conversion rate by a factor of 150? I doubt it. So if the conversion rate remains at 400 to 1 - one million preferred equate to 400 million shares so he and his croonies control over 95% of the company (400 million plus half the commons?)
It appears some sleazy stock market manipulators came to him with a plan to bilk investors of their money and he, a quiet reserved sociopath, agreed to be the face of a false, made-up dream world of chinese equipment that is already being sold by numerous "manufacturers" here in the U.S.
Prove me wrong Mark.
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