I'm torn on it. Dilution always sucks but they need the cash.And I guess I'm glad that in this environment of suspicion they were able to do a deal at all.
report seems rather inopportune.The results should certainly beknown to the Company by now. Ifthey were sufficiently impressive,a larger offering at a higher pricelikely could have been achieved.Could this Maxim financing be merely a tactic to allow more delay for thepurpose of accumulation?
This company needs to delist themselves.
I just read it more carefully. Even harsher is the EBITDA covenant. They may end up issuing a lot of shares for 0.001 or something. Yikes.