I’d of slowed the progression of things down until a deal including upfront money could be obtained. This mindset that selling shares for whatever price needs to end. How can one expect a higher value for shares when management themselves throws them around like they are worthless. If money is sparse, hunker down and cut spending to the bone until you can sign a deal. Then carry on. As far as cutting AXAL, that would be even dumber than diluting the common stock by 50% for 20 million dollars. Talk about no faith in your company or products................