The price is cratering because there is so much uncertainty regarding the up-listing. It is clear that they want to do the IPO in conjunction with the up-listing to NASDAQ in order to raise capital. However, they need shareholders approval to raise the AS to 35 mil to use part of it in the IPO. The question is have they secured the necessary quorum for the upcoming ASM on Sep 4th.

In addition, based on the price requirement for the up-list, will they get NASDAQ approval to uplist in and around the time of ASM. I believe, as we stand regarding the share price, the last day they are eligible to up list is Sep 9th.

If we don't get some assurance that the two things are likely to happen, I believe the price is likely to keep inching down.