Will be scrapped. If it is, the stock will recover. If not I see more downside.

Interesting comment if not wishfull thinking. But honestly one has to assume that if they elected to do such a financing it is because they need cash to meet obligations.
So I guess my question to you is, if they cancel it how do you propose they meet their financial obligations? For obviously these yahoos I woudl hope have looked at all other alternatives before calling this stupid shot !