I don't believe that they have ever put any money into a company...

I don't believe that they have ever put any money into a company in the last 5 years to acquire shares, so instead they issue shares!

No broker would touch this so they had a rights issue. The rights issue had a piggy back option attached, so people taking up the option have another low-priced option = more shares on top of more shares!!

The board and management (I am pretty sure there are no staff) have given themselves so many shares over the years and nothing appears to be aligned to success = more shares!!!

Why would a company give up 10 - 30% of themselves for no money? To see their profits go elsewhere?

No, they do it because they want to sell the shares asap because they need money.... you guessed it = paper paper everywhere and not a profit in sight!!