Relevant excerpt from the 10-K that I think bears repeating:

This drop, together with anti-dilution protection features contained in our August 30, 2019 convertible note agreements and warrants that were triggered upon the issuance of convertible debt beginning in January 2020, the conversion prices of the notes fell to a fraction of a penny, the number of warrants outstanding increased to approximately 532,000,000, and the warrants became exercisable at less than a penny.

This is telling us that there are 532MM warrants that can be converted to shares for less than a penny. We're looking at more dilution--completely unrelated to any future acquisition--to satisfy these warrants once the A/S increases on the 26th. It's not even the convertible debt we're talking about here, just warrant holders that will exercise to convert to shares the moment A/S increases and allows them to.