MM stated that there would be no CR - a couple of days before...

MM stated that there would be no CR - a couple of days before the last CR - not sure you want to always rely on what the BOD says. Last time MM stated a deal was happening and at the webinar, it was the R&D receipt. You need to interpret what the BOD says on a more even playing field.

On holiday? That is a bit tenuous. Maybe they are in the US to get the warmer weather

There are NO big holders in BIT - no one is even approaching "substantial" shareholder status of 5%. There have been no recent accumulation trends. This stock has not been a trader's darling either.

Research spending will drop but only $300k in cash will still put pressure on cash reserves - which are way too low.

Take the blinkers off mate - and maybe take a step back and look more holistically at the total picture. No evidence of any deal and it is unlikely that one is even on the horizon.

Maybe look at the facts would be a better approach than blaming other factors.