This is an absolute and total disaster in every way. This will go straight back to 4 cents if not less.
The $700k they have sold wont even go close to covering their next 3 months of massive expenses based on their last quarterly report their cash burn was $5.6 million which means on top of the huge coming sell off they are going to need to do a capital raising asap.
This is even more concerning as the question becomes are they even able to maintain normal operations.