It is possible due to ignorance and manipulation...but....If people can keep in perspective that this 10k is "old news" from 1/1/17, when the stock was trading at sub-penny levels (.003 and I wish I knew about it at that time) - then there shouldn't be a selloff at all - just the usual MM manipulation - barring any terrific news from the company this coming week. We all know that since 1/1/17, the debt conversion ended with Iconic, the company is making moves toward a great future, and the stock is up 5300% from .003...............and is poised to go much, much higher.
It is quite possible that the company has sold some shares (dilution/non-toxic) over the past couple of months to prop the cash up......but with the stock price in better shape than it was a few months ago, share dilution would be less significant per $.