what you may not realize is that Barry Honig was a large shareholder(over 8% of the stock) in the predecessor company Ruthigen at a split adjusted $18.12 per share before he put more money in at what comes out to be $6.87 per share so he can't be happy about all of this. You are right about the company's totally screwing up the IR and PR so far. Also, some of the old legacy shareholders are just dumping at any price.
Dr. Frost's newest deal. A blockbuster ground floor opportunity which just started trading today. From another press release:
Immediately prior to the effective time of the merger, Ruthigen closed a private placement, led by Dr. Phillip Frost Chairman & CEO of OPKO Health, Inc. (OPK), of approximately 379,400 shares of its common stock at a price of $6.88 per share for aggregate gross proceeds of approximately $2.6 million. Also immediately following the effective time of the merger, an aggregate of $4.5 million outstanding principal amount of bridge loans made to private company Pulmatrix, plus any accrued and unpaid interest, converted into approximately 655,000 post-merger shares of common stock at a conversion price of $6.88 per share.