The email states that it was being used for the preferred shares and for endorsements. The 14c did state it could be used for other purposes and that's exactly why investors questioned the 14c and got that response, which was to downplay that it would be used for other purposes. Since we should have instead taken the 14c literally on all grounds, then I'd say another A/S increase looks very likely since the price is significantly lower and we cannot cover the preferred shares.
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