"That being said. We still don't have purchase orders in the books. This raise was done in desperation and handled poorly." 

Exactly. And there will be a considerable effort by would-be buyers of the offering to hold the sp down and get it as cheap as possible considering the blank (not set yet) share price of the said offering. However, I think there must be some kind of safeguard built into 'the Offering' that I can't find or realize, or my somewhat simple commonplace brain does not understand.