Additionally, look at the recent volume over the past month. Are you saying that all sells during the past month or two have been dilution? Why has the big block spooked people?
Someone needed to get out of their position and the person with large bid support was eagerly waiting for those shares...they want more shares at the bid too - as I type this, 1.2mil bid @ .0038 exists. Personally, I think someone is trying to accumulate an extremely large position ahead of any filings.