Biokey International Inc (BKYI)

[biometric1]

I still dont get Wong putting up $3.60 a share for 40 percent of the company and being satisfied with a financing at $1.50 a share unless he and/or associates acquire the majority of those shares.
If not, how can $1.50 be the best they can do given that guidance has been reiterated twice and implies major enterprise wins in the second half?
Is this meant to break the will of long-term investors who are looking at stock price at all time lows despite all the hype and forecast??