Junkers, I believe that the .36 cent (per unit, not per share, making it even more horrible) offering caught our management by surprise.  I'm sure they knew the price would suffer, but they had no idea of the magnitude.  They did a lot better the next time.

That .36 deal still ranks as the worst I've ever seen, and believe me, I've seen a lot of deals that have made shareholders howl in pain and anger!

I can see that the circumstances attendant to that shameful event are seared in your mind, much like in mine - your description of the price action is pretty much on the money!