Skepic, I hope I can clarify and add a little ad lib on the raise. So they did make the noncement on the self registration on 6-17. It's an intent for a raise down the road and I believe there is a fuse, I couldn't find the announcement to get the details. Again your right they are taking the next step and shares will be issued through Cantor. And It's not a surprise and the last Q told you it was coming 12 mil in the bank and they burn 6 mil. a Q. Your last point IMHO they have indications of more contracts and they will be ready.
So with that said it is really solid to have Cantor Fitz doing the raise. I visited there main office 2 yrs before the 9/11 and it brought the firm to there knees, there main stay was debt. This type of raise were called ATM's {at the market}(Sic) then morphed into "Controlled Equity Offering". These types of offerings are getting very popular, with half the commission 2-3%. And they can sell when liquidity is good, or if they get a contract from Toyota Monday for a big order Cantor can accommodate, lol….
My last point is those of you were here in past raises the stock got smoked 50-60%. The price action yesterday verifies my post it's a "It's brand new day"....
Pennyworld, your last post is spot on with all points made....
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