Interesting take. Regarding the increase in AS, I think the main driving force is getting rid of the 25,000 series F shares that gave Mr. Chan a controlling interest in AMBS. The new agreement involving Series C stock will convert into (among other things) 9.9% of AMBS stock, inclusive of any shares outstanding held by Mr. Chan/affiliates. If you recall, in May of 2018, Mr Chan/affiliates had converted $350k worth of SSCN into 72.6 mil shares. A portion of the shares belonged to Dominick & Dickerman. So, I am guessing Mr. Chan still holds about 40 mil shares that will be cancelled after the conversion.

The stock should start increasing marginally since selling pressure has diminished. However, it will take milestones for major appreciation.