The MM's are taking it down because there appears to be little support from current shareholders who are selling their shares at a lower price. Or the company could be selling shares to raise capital, hence yesterdays high volume, I dunno? Either way the MM's are doing what they do because they have no reason to keep the PPS stable, or make it go up.
Someone was selling off yesterday, and wanted out bad enough to sell it off at a much lower price. Heck, we touched .14 yesterday.