do you think if they pulled the logs out of the water, stacked them, and pr'ed them, the stock would rise enough from them to sell more stock to pay for milling? I think a huge PR, not twitter or FB, would have caused the stock to pop some, allowing them to sell into it to get money to pay for milling.
But, this way will be more lucrative for peter and co. New stock will be sold, diluting the shares. meanwhile peter and co. will give themselves more shares, a bigger % of the pie. Then they will sell new shares to raise cash. They make out good. current shareholders, not so much so.