More like 7.5 shares of stock per $1 of financing. The preferred shares convert to common at a cost of $0.1332 each. Based upon the terms of the Dec 9th financing, the preferred holders could have picked up >10,000,000 shares at that cost yesterday. That's one day.
I doubt these people caused the crater to $0.18 -- they're smarter than that. Last thing they want to do is spook the market.
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