W pattern?

Could this be short covering? Could this be the whales positioning themselves for a mother of all squeezes? The stock appears to have bottomed at .41 cents yesterday only to hit resistance and fade AT .72 cents, only time will tell! Once again the company has deep pockets 166M & trading at a huge discount on a cash basis...I figure this can possibly trade up to 50X cash on whats to possibly come. Why raise all of this capital? My thoughts are purely speculative but the bond holders are some of the savviest investors in the markets, especially in technology. This capital raise was probably directed by BYD, because MicroCloud Hologram needed to bolster their balance sheet in order to convince BYD that the company is here to stay. The other thesis would be to launch a product or possibly partner with a game maker. You see VR turns everything in to a virtual world were as AR augments your world & then there is MR mixed reality.. 166M buys a lot of credibility! Revenues are more than likely to turn around & rise like Lazarus! Everyone loves a turn around story & I strongly believe that MicroCloud Hologram is that story!