Ageed Stonem with your post.
Yes, $PHIL has been DILUTING. FYI... there are some TOXI Note Holders that have converted their notes and selling off their shares.
How do I know for sure? Cause I read it in the 8-Ks. All there in the 8-Ks in 2018/2019.
Also, when I'm glued to watching L2 and Time & Sales... mainly CFGN, PAUL, and sometimes CDEL dump Millions of shares, and their ASK SIZE is still the same size, not decreasing or moving off the ASK, and the same time seeing all these executed transactions in T & S, then I have to call that DILUTION!
Oh yeah... for more confirmation on this subject, GOOGLE... CFGN or PAUL toxic diluters. You will find many articles and IHUB Posters addressing this issue. These MMs are identified as Diluters across IHUB traders.
No worries, it'll be over soon. $PHIL will rise even more soon!