The reason it is down is because it didn't deliver timely news on production levels it was expected to have right now. The reason for this is because it is a startup company accomplishing a "Hail Mary" going from R&D to full scale production without the luxury of semiworks production. The good news, despite the delay, is that they are on track to generate solid and liquid product, albeit not to market expectations for timing.
I honestly don't think it will breach $2, providing for you a base from which to add shares. As far as the timing for revealing their progress, it is hard to tell, but is widely expected. But what if they didn't meet their target of 250 tons per day and only hit say, 150? The VALIDATION of throughput, particularly at this price per share level would provide at least a double for your investment at $2.50/share. It's just a matter of time. When they DO hit the 250, it's an easy quadruple from here, IMO.
Are we dissappointed? Yes. Are we hopeful, definitely yes.
And then why are (it seems) so many that are against this stock in this thread? There's really very few short shares to cover, but maybe they think they can get it below $2. They couldn't before. Why would they now? It is my personal speculation that they are connected to HCF (bond holders) and targeting a low conversion price.
My advice is to hang tough and average down if the opportunity presents itself. Don't let the naysayers convince you of anything unless you feel they add SUBSTANCE to the argument. Name one post in this thread of the naysayers that did. Just one.
As far as progress on production, they are receiving high quality input and process it readily into fertilizer. Yes, they are taking their time with it beyond the market's expectations, but they ARE making progress. I suspect they are ironing out glitches. So what if it takes a little more time? The market will reward them with it's "look forward" mentality WHEN validation of production is announced. At that point, if you don't have shares, you will have to buy them higher.