Pinks dilute. Thats a known fact. They have to until or if, they get a product or some means of creating revenue. If they never come up with a product, or a means of achieving income they just die and go away.
Right now this one looks like it has a good chance of bringing their product to market. If they do this will be huge. In the meantime they have had to dilute some shares to keep going but it's not been total dilution. We know that there are a hell of a lot of shares owned right here on I hub. I hub is just a portion of shareholders.
It amazes me how people get all freaked out when a pink dilutes. If they don't want to see dilution they should invest in some other kind of stock. Pinks will ALWAYS dilute to a certain extent. Most turn out to be pigs, but some make it. This might be one that makes it...IMO of course.