It's just flippers, not dilution... Look at the flipper wall they create hoping that if somebody does hit the ask, well then, just like that they have a chance to buy back at a lower price. And if the wall holds long enough then more flippers, who know they can't sell above the wall, start selling below the wall and thus it drives the price down.
It's just that simple, flipping 101, and it should be illegal, probably is illegal, because, if orchestrated from multiple accounts, it's exactly that kind of manipulation you were talking about...
That said, we are making progress, news is coming, and the bulls are winning! The PPS has to be above one penny, together with the share buyback plan, and we are heading north my friend.