In this case, I agree with the shares. I perceive GTC is going to increase cash flow and although more money will be needed before becoming CF positive, the amount needed in 2008 should be small enough by then that financing on more favorable terms may be available to them. To that end, every little bit helps in terms of conserving cash until they reach that point. I would hope that the next financing would be under 10 million and hold out for the possibility of a note (can always hope).
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