Well, i hate to agree with you, but i will agree with what you said.
They need partner with upfront payment, period!! i dont have 15 yr experience like yours( 15 yr is a lot for trading) but in my short time frame i learned what you said.
i am holding a small position at 0.50 . will add if goes lower . i am not going to chase it for sure like i did with FCSC. lesson learned!!