As the deal was initiated in Feb., well before their success in the Truck Show, it is no surprise that the deal prices are similar to the 2 million financing deal they got earlier (which was also $0.5 per share plus $0.75 warrants; not sure if that deal had the same terms on the lowest between 0.75 and the 10 day average price). The share trading price (especially the price in promotion period) on OTC market at early development stage before the company gets any external recognised achievements was not very meaningful for private investors (if they are real investors, rather than day traders). Therefore, the 71% discount to the highest share price happened on some day was not as significant.
As the company went public through a reverse merge with a shell company, their shares are restricted for domestic owners/investors (something like they cannon be sold until two years after the company emerged from a shell company status as indicated by stable revenue/positive earnings).
Such restrictions make it difficult for them to get domestic private investors, especially as the very early stage without major progresses have been made. These would force them to look for offshore private investors.
I agree with Schris that the deal is still a positive as long as they can get large amount of funds from private investors to support their operations. The revised deal with ClearnFutures was also a positive, as this indicates that the EchoDrive is their own technology, rather than one built on ClearnFutures technology, and they do not have to pay ClearnFutures any license fees as defined in their previous agreements.
The key to them is that they can raise more fundings (at least 2 million) from private investors in next few months as needed to bring their product to the market as planned by Q1 2014.
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