They raised less than 800K in private placement. Is that because that's all they could get?(I doubt it). Big holders in this stock stand to lose a WHOLE LOT more than this if RCPI were to go bust. I like RCPI playing "hardball" with McKeon...it means they are basically stating that they do not want to continue to run the company as old boys network. Either RCPI feels that McKeon will pony up going forward or they believe that they can get additional funding from other investors at a cheaper price than McKeon is demanding (via renegotiation of existing agreement) going forward. Getting the CTA started certainly helps...hopefully attracts additional funding potential and/or moves stock price up ultimately so that new $ come in at higher price and in less dilutive fashion. The "rest of us common shareholders (aka owners)" are no different from McKeon...many of us invested significantly at higher prices...we have to stick it out to see the results...even if "underwater" for now.
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