The dilution, in my opinion, is a conversion from before TC ever got involved. He's allowing it to get completely out of debt BEFORE they start "buying back" massive amounts of shares with future profits.
Now that's speculation BUT here's a "hint" from Bravatek on Twitter:

Bravatek Solutions‏
@bravatek

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Responding to BVTK shareholders' input, BVTK Management is working even harder to minimize debt...