I like your analysis, BlackDoggie.
Historically we have seen how dilution devastated the stock price.
Its been interesting to me that the last two raises, albeit small, did not have a notable affect on the price of the stock.
Speaking of "speculation," when you expect the price of the stock to go down as a result of an event (dilution), but it doesn't, it can be taken as a positive or bullish event.
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