IMO it is not mostly traders that are selling. Yes, they make up a large part, but most of it is those entities that hold shares that the company paid them with, and they are selling every chance they get.
Remember: The company has given out over 25M shares in the last 6 months.
Another way to state is: The company has DILUTED the share value almost 6 fold in the last 6 months, for those who do not want to believe that they dilute, LOL.
Only some of those shares issued to other entities to pay for deals or pay off debts, etc., are now restricted, and many other shares became free and tradable from previous deals whose restriction clause has expired.
Those entities receiving those shares are selling EVERY SINGLE CHANCE they get, and at this point, I do not think they even care if they take a small loss just as long as they can get out before the company RSs their shares so that their shares become almost worthless. They do not care if they take it to .09 or .08, they will still get more for their shares than if they wait until after the RS.
This is because they know that if they hold the shares for better prices after the RS, the company will likely not free them up for a week to a month, while the company then issues another 5 to 15M shares that can be sold into the market while their shares are locked up waiting for the TA to get the new shares to them.
The dumping is from the past dilution! IMHO.
