I think you're stating the obvious. At a 200% profit, some shares will be sold. However, if additional progress is made between now and then, and hopefully timed with the share release date, the share price will recover and continue significantly higher if customers are announced for either partnering or actual contractual purchase agreements.
I believe the downward pressure is also related to the plant expansion plans. Lots of 2017 expense. No telling when the final CAPEX is done and in the rear view. Until end 2017, this will be up AND down. There won't be any reasonable EPS trend line starting until possibly 2018.
A long wait until this is resolved….Q2 2017 at earliest. They'll need to do the buy-back to keep the stock in-place, above $1.50, between now and then. Can't see any catalyst between now and then.
JIG will structure their investment to basically control the company and in essence make existing shareholders take an almost total bath. The company has no cards, and JIG holds all of them at this time. They will have to pay 2 or 3 key guys to stay on, while most of them will leave shortly if this is not straightened out pronto.
I think Liviakis has common shares as well, and will likely be wiped out just like everyone else. They were suckered in as well. Whatever they convey may reflect wishful thinking on their part.
I question Powell's judgement and "skills". How could he not have seen this before he took over, and as he quickly kept adding headcount? We'll see whether he keeps his job, and if we keep our shares in an ongoing enterprise. Jury will return within the next 2 weeks. In the meantime, how do they meet their payroll, and general obligations (rent, etc.)? Are there employees going to work for free?