Bluefang,
The CEO has continued to say they will not need to raise capital. Having access to capital does not mean they are going to use it. From my perspective, it would be foolish to not have this mechanism in place as an insurance policy.
I think management is aware of their need. I am sure they are expecting the outcome intimated on the call, but at the same time it makes sense to plan for the worst case scenario.
Taking out an insurance policy would not be an indicator of one expecting disaster. Until the new management proves they are as untrustworthy as the last management, the comparisons you make between the two are just plain silly.
The CEO goes by the name Bill Solms. He has made public statements about his expectations. He will be held accountable for them. You on the other hand throw out prognostications under an anonymous handle.
For now, the people on the board should be listening to the CEO until he proves he is untrustworthy. I don't know that there is ever a time to be listening to an anonymous poster on a message board.
