Looks like they are going to try and raise capital through a combination of private loans (which will end up being convertible notes) and selling new shares. They are authorized to sell up to 500,000,000 shares and there are only about 200,000,000 million shares outstanding.
Plenty of room to sell shares. In this 10Q you see a lot of the standard "We are a development stage company, so there is question as to whether we can continue as a going concern" but that is required by Sorbanes Oxley.
I like how they through in more specifics about the contract negotiations going on for Chile, Africa, etc. ANNNDDDD that there are prototypes being made for the batteries in Korea. That is HUUUUGELY positive news. That means that products are being placed in front of potential customers, which means that the potential for financing is VERY present.
I am happy about this one.
