alea, I believe the PR said the effort will draw from the shelf, as memory serves the shelf is good for $10m. The PR says shares and warrants.
Say 65 cents a share, shares:warrants 2:1 ... $6m cash tops ... depending on warrants pricing.
About 14m shares give or take, 9m now, the rest in warrants overhang.
all of that IF they get 65 cents a share.
The above content is my opinion.