And with the price under a buck and going lower every day, how do they plain to raise that cash? Rob a bank?
Nothing like having your backs to a wall when negotiating a financial deal. Maybe 100% dilution at 50 cents + toxic warrants? And the longer they wait, the heavier the dilution and lower the offering price will be. Most of those shares will probably be bought by insiders anyway IMO, and when they have a majority interest they can then go private if they want or just let the stock delist and go pink, so that way they aren't accountable to provide financials or even communicate with shareholders.