I would have thought that if they were in discussions with one or more parties they would have cancelled the latest financing. To the extent they did not, they can now play hard to get.
Right now they may view any potential offer as too low and want to put together some better performance numbers and show the ability to execute their business plan.
Right now the fair offer is in the $3.00 to $5.00 range given recent activity in the sector.
They may determine that by waiting they can get a 10 X.
Those buying into the latest round may feel the same way and are looking at a 3 to 5 year holding period??
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