There are several reasons. 1. Thwarted takeover attempt by an investment company. 2. Just about every dirty trick used used by gremlins to keep the PPS down. 3. Some illegal naked short sales that the SEC made them cover. 4. Competition for investment funds by a scam stock. 5. Day traders doing their thing. 6. A few professional hired bashers spreading false rumors. 7. Conversion of debt to equity through 50-100 million new shares in T-trades. 8. Lack of enough PRs All are history.