By the way, lets not confuse private placement PP and public offering.We go for PP for relatively small amounts because its less costly and require less legal stuff than public offering. We will go for public offering when we will go to a bigger stock exchange and try to raise 100 millions $. 4 millions is really peanuts in this project and it got gobble up in no time.
We had to give 5-6 millions of shares for 4 millions in dollars. This will give MS the time and the negotiating power when he'll go for real financing. We did say not all financing will be done at the same time nor at the same price. I am very very convinced that this is the last and lowest level at which we will issue shares the next ones (plural) will be at a much much higher price. Not in February, nor March not even April but we wont need the cash in those months, we succeeded in our private placement.
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