fouremm,

There are a couple key differences between last June's B&B offering and what has occurred since April with the more recent "proposed" B&B offering in April.  

The news in June came out on the 8th and the PPS was over $2 at that time, it closed at $2.05 on that June 8th day.  The following day it had fallen to $1.65, by the 23rd it was down to $1.28 at the close.

Up to May 31st short interest was at 229,700 and then the update up to June 15th put it at 841,500 for an increase of 611,800  After that the short interest declined substanitially, down to 240,600 by June 30th then 218,500 by July 15th then down to 179,500 by July 31st.

Mission accomplished, the PPS was in and around this $1.30 to $1.50 area give or take as shorts were able to cover off the 611,800 shares they shorted after the financing news.  They were even able to reduce the 229,700 they were short before the financing took place....by about 50,000

This time?  No such luck.  

After the April 17 2018 news about a possible financing short interest went from 176K to over 1 million and its still over 1 million.  In fact if the shortdata numbers are accurate....short players have basically doubled down.