I got itI now understand what managed did. I think that it was at 0.48$ that the offer at 0.15$ was made. The average person like Foxbat147/143 or whatever did not understand is that there is dilution but the shareholders are the sole beneficiaries. I still have to calculate the price of the stock based on the 0.48$ valuation.
People treated the news as if it were a Private Place Offering and it was not.