He's not crashing the company. A new public offering below market price? Raising funds only for their salaries? What does that tell you? With years and years to any revenues, and with them desperately out shopping for a "partner" at any conference they can get in to, $0.40's looks like way overpriced stock.
There will need to be another round of financing at this burn rate, which will have to be another down round. Do the math. In abut 6 months they will need to do that at what price? $0.35? $0.30?
They are way past the deadline for NASDAQ notice of delisting. As soon as NASDAQ wakes up and gives that notice they have 180 days to fix that. a 1:10 reverse split on a PIPE, wipes out all of us.
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