Coking Price, page-25

That's exactly what I find so odd Jimmy, and I have no clear answer for it. But if you look at Regal's sub. holder notices, whilst they are clearly churning the stock, they have increased the position recently mostly in two large trades:

30 November 2022: $8,193,251 for 27.3M shares (average price: $0.300)
6 March 2023: $6,065,433.92 for 23.2M shares (average price: $0.281)

Back in August last year they were also buying as high as $0.36 to $0.41 (see sub. holder notice dated 1 September 2022). Given they hold 14.2% of the company and there's negligible shorting, I guess you can only intuit that they are bullish the stock in the long term. But it's Regal, so always keep one eye open!