Pinned straw:
Sophisticated investor
From what I gather, the sophisticated investors who were involved in the capital raise at 15 cents will be turning their shares over (because that's their business model, make 10-15% and move on to the next). So, when the company over the next couple of weeks to a month or so, depending on volume, churn through these shares it gives people opportunity to buy at a 55 million dollar market cap, which is under fair value in my opinion at this point with the news we have at hand, the reason it's not shooting up and continuing its momentum is because of the psychological uncertainty around this churn.
At some point the damn wall will break, either by news and announcements of contract(s) or because the institution runs out of shares to offload.
Great opportunity for those wanting in at a reasonable price. All IMHO