What share price price?
If the sec u talk about is the one i've seen too then they registered 0 shares but just got the possibility, to sell time to time up to 75 million $ n shares or warrant at a no fixed share price.
It seems to me that it is a logical thing to do. You have this new hot product, but you need to raise money in order to produce more of it. I think this has become a holding stock for me. I am sure that a big catalyst is coming at some point. If you don't need the money right away hold on to this stock.