Good question -- maybe the private placement gets some privleges or advantages which regular shareholders do not. Converting from $CAN to $US at about 0.8, the cost to private placers was about $1.00 US per share -- seems they overpaid. And now the overall holdings for everyone are further diluted -- this may explain why today's price has fallen to $US 0.70.
Agree that Pandora will continue to fall, but go to -0- ? Why do you expect it to go bankrupt? It started upwards in Dec 2012, peaked in march 2014 and made a low of 14.50 this past March. Why do you expect it to fall lower, and when?