Regarding dilution, if they can quickly sell an extra 100m shares from the authorized increase of 100m to 200m, it would provide a ton of stability. Let's say it's offered at 8 cents like the previous sales this year. That would be $8m or over 6 years of cash given the current $100k/month burn rate.
Obviously it would be devastating to the stock price and send it plummeting. But it would give them plenty of capital to help commercialize the product. In the long run it could be a net positive, coupled with fulfilling their desperate need for cash now. JMHO.
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