Of course, if by some (admittedly) miracle they can get the stock price somewhat comfortably over 1.5, they could get another $20M from the warrants. Big question is whether or not there is any good news coming along soon to make that happen.
It is odd that the last financing cleared out the whole shelf. If they were working on a deal for AXAL, why wouldn’t they have kept some shares to sell in the deal instead of getting rid of all of them at an all time low?
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