Because they have to dump a lot of well discounted shares into the market. Without any filings you don't even know when they converted or how much. just have a look at the last available Filings for PTOP. It may gives you an Idea how well discounted these share might be...
Just ONE Example:
During August - December, 2015 the Company issued seven convertible debentures to third parties for a total of $172,500 all carrying a 12% interest rate and convertible into common shares at the lesser of $3,000,000 or a 50% discount to market based on the average 5 lowest closing prices of the preceding 20 trading days.
Check their last available Filings, they seems to have a bunch of those toxic Notes. Most of em are overdue already, how many new ones they signed during the past 2 years... who knows without filings...
The massive increase of the A/S took place for a reason, imo. But without any filings the reason is unknown, but becomes more and more obvious on a daily basis, imo.
The Stop Sign is there for a reason, but it's not anti-dilutive.