Here is my read into this announcement. Previous attempt was at higher price (market) and at higher volume. Nice try and would have likely been all they needed going forward if the sales plan is met. Their immediate need is to finance production and short term sales efforts (pay the bills). Once they demonstrate that they are doing what they say they are doing, SP will strengthen and likely another attempt at filling the jar will be made.
VRS is showing good restraint by lowering the PP size at this time and likely a sign of confidence. If there was no confidence, then they would not have lowered the PP size IMO.