I've never seen that number of sellers at open before eg 56 at...

I've never seen that number of sellers at open before eg 56 at 0.016 and 36 at 0.015. My only explanation is that an investment club told their followers to sell at 0.016 and what followed was panic due to the large number of sellers in a very illiquid stock.
I would be questioning the decision to capital raise if the share price stays here. Perhaps a loan would provide the working capital needed until sales volumes increase to required levels.