Dilution is NOT the same. There are toxic dilutive actions, notes, debts, etc.. & I'm afraid you are mistaken. They're NOT 'all the same'.
Usually, when a typical OTC Pink dilutes, they raise capital (or use shares to pay debts) at a discount-to-market. Which is deleterious to shareholders, the value of the company, & the stock price because it invites short interest, increases share supply, and because OTC's often do so at 60-95% discount! For ex., if you bought 5M shares with your hard-earned money at $.01 ($50k) you wouldn't want the company giving 150M to someone for $.003 (or less) would you?
That's the difference. That buyer, entity, person, or company is now incentivized to sell those shares directly to market for a quick profit. And the market in the stock COLLAPSES under that threat, pressure, etc., & only shorts & that entity really benefit.
Now that is a far cry from what the WSJ reports here. This is an investment to fund by someone who cares about the company & the stock price. A potential business partner, wealthy shareholder perhaps, an overseas interest who wants an investment, footprint or foothold in the U.S. maybe? I honestly don't know. But dilution is NOT "all the same".
Furthermore, if you track the daily volume in the stock prior to July 16, & even well before that. The daily volume was around 200,000 shares/day avg. What do you think would happen if a person, company, or entity was trying to acquire ~150M shares of a company whose average daily volume is around 200k, trading around $.015
And you don't have to think too hard. Just look at the last couple of weeks! Not even half-that amount has traded over the last 6 trading days & the stock is already past $.03. Once again, not all share distributions are the same!
Finally, the last tranche-raise means the CEO & prospective business partner(s) realize there's some fluidity to the S-1 tranche offerings. There has to be. Which, like an IPO, gets finalized when all the preparations have been finalized & the launch is close at hand. I personally have no idea & don't know when that is, but from what I can tell, bulls are in control here. And if it is true that some long-time shareholders have mostly locked up this float, & the absence of corporate dilution continues, (nevermind short-interest for a moment), then this stock has the potential to go as high as longs decide: aka AMC, BB, GME, BBBY.