Smart money saw it coming long agoThat is why institutions and smart investors, have been avoiding the stock like the plague..
I HATE TO SAY I SAID SO,but I and few others,kept warned about the Company's deteriorating finacial position, for some time.
BTW..for those that questioned as to why they didn't set a price to the finacing,look at the action of todays SP and you will have your answer..they are waiting to asses the market's reaction to the news..imo