Stock Price and OfferingPerhaps this new offering explains the recent selling pressure and stock price. Let's suppose that someone owns lots of shares, but also knows about an upcoming offering. You could sell stock at a higher price to eventually participate in an offering at a lower price. Further, you could actually help reduce the price of the offering by keeping the market price low with continual selling.
Not saying that is what happened here, but it is an interesting "thought experiment"...
Now, although I DON'T LIKE another offering, perhaps this could settle down some of the speculation that the price is dropping because there are problems with the technology.
I think there are more problems with management execution than with the technology. By constantly not meeting time deadlines, this commercialization drags on and on with a steady drain of company funds. I'm still confident they reach the finish line, but I think we lose out on some of the profit due to stock dilution due to extra offerings due to time delays.