This often happens when quarterlies get left too late for...

This often happens when quarterlies get left too late for peoples liking. The later the quarterly is released without notice (ie. some companies will clearly state when the quartelry will be released along with an investor call) the more selling occurs as usually it indicates that performance is not great. Take a look at PIL's tracvk record:
Jan 2023 - released early afternoon on last business day
Apr 2023 - released on last business day prior to market open
Oct 2023 - released on last business day prior to market open

The risk you take that if you wait to the last day and it is not released by 10am then sellers will exit. May be a short term lull in shareprice. For Me I exitted months ago and in hindsight price wise was too early (~1.6c). But to me this company is simply way overvalued (38m EV) for what revenue it has to date (basically nothing) and on their ability to deliver. No doubt that it MAY have potential but management shown they never have delivered. The business division that they bought off XPN was a cash burner and I thoroughly believe they can not turn it around and it will burn cash moving forward (300 - 500k / qtr). As it was only taken over late last quarter you will not see this cash burn but may see costs associated with legal or due diligence. I reckon the March qtr will be horrendous and a CR will be initiated prior to quarter end. Keep you eyes open for Fluff announcements and updates that have no meaningful short term cash injection. There may be a pump prior to the CR.