It’s dilution. The pattern is remarkably consistent when they are diluting. Major dumps out of the gate in the morning and then the volume drops off and the stock stabilizes or creeps back up toward the end of the day. Been going on for well over a year now.
He is going to have to RS yet again before it drops below $1 because Nasdaq will no longer grant any grace periods.
News 
Market Data 
Discover 
