Why is MGT at 8c, page-3

Company kept kicking timelines down the road and asking shareholders for money (To cover their insane staffing costs).
Shareholders had enough and would no longer fund the operation.
Company took out a shitty finance deal to allow operations to continue while they chase a partnership.
Financing deal offers shares to the financiers with a conversion price of 8c. So they dump them at 8c and suppress the price.
For what its worth, its also the EOFY so people are selling to shore up losses/gains for the year.

Long story short, its 8c or less until the JFE announcement which is now scheduled for December this year.