Ann: Trading Halt, page-19

You're kidding? a new investor? Happy to pay a premium??? CR's are offered to sophisticated investors and are by invite only. These people are shrewd and will only invest at less than the current SP.
The capital raise will be around .36 cents and the SP always drops to reflect the new price.
This explains why the SP has been declining for months - it's because it's been groomed to attract investors.
A high SP does not help the companies cash flow and at .80 cents investors would not touch it.