If you're familiar with the register, you'd be familiar with the...

If you're familiar with the register, you'd be familiar with the fact that is was until the last raise, almost exclusively retail.
The institutional investor is not as familar with Oleg and his proclivities for burning through shareholder capital.

I also wouldn't assume that every institutional shareholder will be thrilled with this or happily participating. He's raising at $1.15, not $1.40. He's waving a giant carrot.

Oleg has options against stock, he has no direct holding.
He is not aligned with your interests as a shareholder. His interests are now two fold.
1. To empire build to justify a larger executive salary, and
2. To raise as much capital as possible for moonshots and big swings at your expense to try and turn his options into something valuable.

We're not seeing disciplined capital management here and it's because the executive team is no longer aligned with shareholders. IDGAF what "instos" think. Anyone, including them who ignores this obvious red flag and continues to funnel money into this because its a hot thematic to have in a portfolio deserves to lose their shirt.

This is just wild stuff taking as much money as fast as he can get it to take as big a free swing as possible on his options at shareholders expense.