Dash,,, in my limited experience in the stock market,, when a company does a PO they normally halt the stock,, announce the PO price and time peiod  so no one can  screw around with the share price... With our PO,, I believe the share price was around .80,,, the company announced that there will be a PO in the near future which was a heads up for the traders,shorters etc. to hammer the share price down.. I believe it was hammered down to .48  before the .36 share price of the PO was announced... IMHO this PO was very unuusal..