Another 1-for-50 reverse split was just done today. The last 1-for-50 reverse split happened two months ago on May 15th. Current price after this reverse split is $2.60.
There are still a lot of shares which will be dumped onto the market. That selling isn't going to end any time soon.
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NewLead Holdings Ltd. (NEWLD) Stock Research Links
Yes, I understand your penny stock also is the real deal, created with the inventiveness of Edison and destined to be the next Microsoft. Yes, I understand that the delays are also only because your company is making their product and/or technology even more revolutionary.