Right it is institutional ownership. For penny stocks the great majority of the time the loan sharks do toxic financing and cause a death spiral on a company they lend to. In this case that was Asher who has been a doing toxic financing in the form of convertible notes with many penny stock companies for a long time. The loan shark makes the loan. When the bill comes due the company doesn't usually have the funds to pay and so the loan gets converted into shares. The loan shark knowing this and knowing they are going to be getting a ton of shares start to short the stock with no risk as they will have shares in hand to cover with at the clearing house. It is institutional ownership because like in the case of Asher that is an institution. Also because they are an institution they can short penny stocks. The 13g is "institutional ownership", but it came to be because of toxic financing hence dilution.
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