I believe it is mostly due to the silence. They said they were going to do Merlin, and I believe it stated that in their fact sheet now it doesn't. Also, if they are using the dilution for the right reasons I don't think the pps would be in the tank. What I mean by that is tell us we are working on _____ and have hired____, we need to raise funds to compete it. In two weeks the pps won't be close to where it is now IMO. A/S increase=way lower, none way higher
All of my posts are just my opinion don't buy or sell a stock based on my opinion do your own research before investing.