I think St George is selling their shares, hence the continued downward pressure.
This is going to take a LONG time to generate returns but if Parsi can pull it off it will be worth the wait.
I don't like Parsi, I think he is incompetent and not CEO material, but he is who we are stuck with and the concept itself is solid. Just don't think he is going to get anywhere NEAR the $5M he wants in this offering. I think he will be lucky to end up with $500k.