you've left out the bit about how much BCG itself subscribed to...

you've left out the bit about how much BCG itself subscribed to namely:

'The Placement Shares issued to Blockchain Global (114,711,813) will be subject to voluntary escrow for 12 months. The Placement Shares issued to other investors will not be subject to escrow.'

According to my calcs BCG put about $1.4m into FGF in total (i.e. no options were taken up by them) and their investment will be locked in for 12 months...so you need to forget about BCG having put in $3.6m as you seem to think
this is also not nearly 50% of the FGF funds raised and available cash as another poster seemed to suggest

In the meantime, i.e. before any significant news, some of the sophs who put in the rest at 1.2c will be taking profits as they are free to sell their shares and this can put downward pressure on the SP