what happened to firstfolio today? down 24.3%

Hey holders. FFF was down by 30% intraday, and ended down 24.3%. Without any news coming up on the company, and this being no ordinary sell-off, what do people think? I got in today, and thought I'd chuck a few ideas around.

So, from today's sell down, it is either administration coming up, and a rush to exit, or something else. From watching the trading, it seemed like one ambitious seller, constantly knocking the price down.

From all I have read about FFF, it's highly acquisitive (can be good or bad), is well geared up, and will probably be doing a capital raising. Aside of speculation around FFF being a potential RHG loan book purchaser, the most recent news on FFF is more interesting (although it is from 30 June 2011). Here's a link to the article in the AFR (members only or take a free trial):

http://tools.afr.com/viewer.aspx?ATL://18d711fc-a129-11e0-a188-f50a91381b5a§ion=tools

It says that FFF is reliant on Anthony Wales' private company for finance. FFF drew down $38.3m in this first half year from Wales' company. FFF has net assets of $32m, an NTA deficiency of $57.3m,and cash inflows of >$4m.

Here's what I found interesting: Champ Ventures (private equity) has been considering taking a 19.9% stake in FFF and would do an equity raising with Southern Cross, to pay down debt from Wales. Wales holds 16% of FFF.
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If there is an equity raising imminent, it is going to be lower than today's SP. Our new market cap is $21.42M and we have reached multi-year lows with the SP. $336k bought and sold today as the market responded to the wipeout.

So,what do holders think right now? An opportunity because someone went ape in selling down (margin loan, etc),and this unusual selling should be restored back to normal levels, or is this company in deep and serious trouble, or are we simply being groomed for a capital raising, which will look like a less steep discount, due to today's sell off?