I think he's in love with the dilution thing. My guess is that it's his sick way of trying to punish the recent investors who he apparently resents. In the meantime, he also punishes his original investors.
I only met him once at an open house. Proud of what he was trying to do, inept at answering any business type questions. I think the kids call it "sketchy".
Andre, how many initial investors were there ? Any idea what their thinking is now ?