Tilator, are you sure he can't get someone to buy any offering or is it he does not want to another one at this level if he knows he only needs a little more time?
If he knows he has news(say Rexista results and a partnership) why dilute now when he can wait a month get the price higher to say $10 a share because of a nice upfront and then dilute?
just saying there has to have been a reason we are seeing this play out this way.