Folks are not being disingenuous. It honestly depends on how they read the tea leaves.
This will be the last deal before study news in my opinion. If the Company only end up only being allowed to raise 10 million shares, then in the end, this will be better news for us assuming success. (Study failure and none of these things matter).
Remember the share count is the most important to shareholders when considering valuation potential based on learning study success.
Now, it will also matter where the raise occurs for those who already have a position, as far as dilution is concerned. But, the stock is so undervalued now that most here added so it should easily rise above their cost in an instance. There were far less $10 buyers than you think as there were less shares back then. Anyway, the good news is that Shareholders already consider the stock undervalued and so they added. They won't be selling there shares to sit out primary endpoint news IMHO. The ones who have been selling lately are the day traders. They appear to be sitting out mostly waiting for the financing to close. And it is best for shareholders who have an established position to be mindful that a new offering will take place. I have been waiting to add and I plan to do so once I see where the offering price is. The newest shares issued are not diluted, so knowing the price of the deal is important. Without knowing I plan to wait. If success comes before I added, I have a large enough position that I will benefit greatly. And if it comes in lower than my cost, knowing that information will allow me to dollar cost average at the appropriate level.
Now, all that said, our best bet is if news of success comes in before any capital raise. That would be the ideal situation. The least amount of shares they issue, the better off all shareholders we will be. But we don't know the money situation so they may have to raise in an unfavorable way to make sure they can cover study costs. In any event, we just have to sit tight and wait for study news and see the terms of the raise before deciding where best to add.
Make sense?
