Another problem is that Minex already sold 3 of 5 millions coins or about 60%. They need money to pay workforce and expenses and with MNX price so low ,they will need much more coins to sell.
Minexsystems doesn't rely of their mnx to fund their work. The company has its own funds outside of crypto. They have investors outside of the Ico that invested fiat in the company and also Boris invested alot of his own funds.
Development will continue regardless of the price of mnx. That's the good thing about it. They won't go bankrupt if the coin decides to nosedive.
What Development??? They have accomplished nothing in 20 months since ICO.