Buying opportunity for those who appreciate what is going on. Selling likely by some disappointed in the voluntary de-listing (or those who don't want to hold OTCQX shares)
If you read all the filings, it is clear they raised all the money that they wanted/needed through accredited investors, and that the merger is on track and is going to happen.
By the way, this is how a real merger happens: with actual documents filed with the SEC, naming all the parties and the exact terms of the agreement.
I'm very comfortable holding here, and riding out the short term turbulence. As with many stocks, patience will be rewarded.