We've gone through a rather stormy stretch here, seeing the stock decline from 95cts or so to today's close of 58cts. Everyone has lost some paper profits, have paper losses, or real losses which is never pleasant but extremely common when investing (otherwise everyone would be instant billionaires if every trade was successful).
The financing was originally announced when the stock was 62cts and was unsolicited (i.e. read unecessary). If I may use a silly analogy, it was as if a delicious frosting had been applied to the GSI cake. Many gorged on the icing to such an extent they pushed the price up 50% but forgot about the cake! Now they are groaning, missing sugar, whatever...
There is no question GSI's business currently is as good as it has ever been, as their products have become recognized for not only their excellence but are also addressing pressing problems. I would assume that Doug Dyment has kept in reserve a few good news for such rainy days, though he might wait a bit before announcing anything, perhaps closer to the AGM.
The truth is, we don't know why the deal has been delayed repeatedly, finally to be cancelled in its original form. Call me naive, but I won't fall for nefarious explanations, bordering on the liable as some here have posted in their self-centered anger at losing (paper) money. It could be for some perfectly acceptable reason, like it being contingent on another deal that itself is being delayed.
In my perspective, the stock has already priced-in the failure of the financing by dropping like it did today, and the last few weeks actually. Will we go lower from here? Perhaps, as some chartists see the gap at 50cts, or some people fall prey to their emotions having lost trust in management and dump at any price. But certainly, I feel the stock is now in much stronger hands than it was a month ago and it is likely a lot of so-called smart money who missed the first run is waiting on the sidelines to buy the "bad news". So seller beware.
As for me, for better or worse, I am now married to my shares. Nobody's taking them away from me!
Hen