This paragraph answer to your question ...
"The Company does not currently have sufficient
authorized common shares to affect the exercise of the stock options or warrants or conversion of the notes."
Now, up to the lenders if they want to wait longer for money back or if they want to realize the poor assets of OPGX ... lol
But if they can continue as going concern as the last PR shows, dilution will happen 1 day , you're right.
Anyway , if OPGX is traded in PK , with a capitalization of 150k$, this is not because that they have the balance sheet of Microsoft ... ,0)