Too many shareholders acted like lemmings, triggering an avalanche. Predictable, yes, but not smart. A little like when management sold near the highs last year. 

We knew they had to raise money. The avalanche has assured that the money raise would be at a much lower price and much greater dilution. The fact the price was not yet set should not have freaked so many out. 

It's all completely crazy, but in keeping with the Poet saga.