Ann: Quarterly Activities and Cash Flow Reports, page-20

I think you should look more closely at the trades over the course of the day. During the week there are several times that HMX was trading at 11 or 11.5 cents until just before close. Late sell orders at lower prices (for small volumes) were used to drive down the closing price. Why would instos and Sophs want the share price down, even below the issue price of the cap raise? Because they want retail shareholders to get nervous and sell them more shares as cheap as possible.

So you can get nervous and sell cheap or hold tight.