In February and March of this year, Walther sold approx 24,500,000 for financing at huge discounts of 85% - 95%. About $245,000.00 was raised. The same pattern of selling 10s of millions of shares at staggering discounts has occurred many times before. Typically the discounted shares are restricted for 6 months and then become "free trading."
That's why the PPS keeps falling (down 5 1/2% today and over 12% in the last two days.) The market is awash in heavily discounted shares ( most bought at just .01) that are quickly sold for enormous profits.
So, while you folks were buying at 6, 7,8,9,10 cents per share or more, Millions and millions were sold at .01 or less. This is a game that retail shareholders cannot beat.