This is true, a lot of companies need to raise money. Problem is...

This is true, a lot of companies need to raise money. Problem is this was meant to be into production at the start of the year, then kept getting delayed, then the rug pull, now PEN is looking at end of 2024 (I would be expecting delays, there is always delays), no cash flow until 2025 and will need a crap load of money between now and then.

Not hard to understand why investors would be fleeing and moving their capital elsewhere.