i may be totally wrong but this doesn't look like a dilution, such a small float cannot dilute 5m shares a day.
I have a feel that this has been raided badly by MMs, went down from.75 to .45 in an hour.
either someone knows something great is coming and they will sell for few dollars next week. something like ETRM , will the next week be bullish? or its just a dump and we have suffered the loss.