As far as dilution goes, in the past a pinksheet company could legally sell free trading shares under the rule 504 exemption to specific investors but, as you may already know, Rule 504 is no longer available for Pinksheet companies. If anyone tells you ZVTK is selling free trading shares immediately to investors and diluting the stock to raise money they are wrong and don't understand how the pinksheet works now. Here, there is no raising money using the 504 exemption and if they were be able to, prove me wrong, and search online to find the filing for the exemption.
The only legal way to offer immediate free trading shares with a Pinksheet company, as of today, is to file a Reg A. ZVTK has not filed a Reg A so there is not an issue free trading shares to any investors.
The other way to raise money for a pinksheet company at this time is to sell convertible notes or debentures. With these transactions the company can raise money now but the investor has to wait 1 year to convert their note into free trading shares. ZVTK has some investors invest in this way and after they wait for 1 year they have the right to convert their notes if they want to.
As you can see on pinksheets.com, ZVTK has issued some restricted shares recently. Some of these shares were for acquisition and some were for adding quality consultants.
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