convertible note issue

Is anyone concerned about the impact on the share price that may result from the 85 million shares at 9.5cents to be issued early next year, plus another 42.5million shares issued within the next two years at the same price? With so many shares so cheap wouldn't one expect the share price to be depressed for some time? I really don't understand why so many shares were issued at such a ridiculous price and to even give away options at 9.5cents. The latest research set a target price of $0.91-$1.14 based on 154.7 shares - add the extra 127.5 million shares and you can almost half this price target! Anyone have any thoughts on this matter?