john, here's the deal:
The company had two options: a.) seek financing that could be potentially dilutive or b.) go out of business. The company chose option A. That was the best option for shareholders. Managers aren't required to bring shareholders value, they are simply required to do what is in the shareholders best interest, and keeping the company going was certainly better than throwing in the white towel. Do I like it? No. Check my post history. I first bought this stock at .30. Yes, I've averaged down because I realize this is an investment.
If you are someone new here who is looking to buy in, your though process should center around the CD being completed and significant revenues being realized. If you think those two things will happen in the short-term, then perhaps you should take a position now. If you don't, then perhaps you should move your money elsewhere. This company is in business. This money from financing is not being used to coat managements pockets. Rather, is it being invested in this company. We will settle the score soon enough. If we receive news that the CD is over, every single person who has read the company's revenue projections will immediately buy in. If, on top of that, we receive news that significant revenues are being realized, we will trade at much higher levels in days.
That's basically this play in a nutshell.
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