I will be astonished to see $1 by summer solstice. (Assuming you mean summer solstice, 2013, i.e., June 21) Tox studies won't be done by then, and they probably won't even be started. The manufacturing facility will be far from completed. There will be no other news of significance either. So what magical force is going to put my shares into the black by then? Will Seaside suddenly start buying instead of selling?
That said, I'm as surprised as anybody by the collapse in share price. It's not the 0.32 price that surprises me, it's that it happened in a single 25% plunge in the last few minutes of the trading day. Puffer has correctly pointed out that this happened on rather modest volume, but that just highlights how few buyers are out there. It was apparently quite easy to blow through the few buy limit orders outstanding.
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