The guy has put his personal treasure on the line here. A list of other CEO's of public companies that have put the kind of money Al has into their companies would, at best, be short.
So, I cut him a whole lot of slack on his actions in trading debt for more stock, and it was done in conjunction with a public offering, so at a non-arbitrary conversion rate.
One way or another, we were going to be (and are going to be) diluted. That's pretty much the way of life in developmental biotech. Has he made mistakes? Sure, what else is new?