If you don't see any evidence of a turnaround you should wait to buy shares until after the partnership announcement. That way, you'll feel more secure and you won't mind joining the chase and paying a lot more. imo.
You could round up 30 million in a PIPE, and call Leo. See what his response is and then from there you will know what is about to transpire. Just sayin
Agree, If there was confidence in a B partnership, they'd use the MFO funds for P results. Seems a lack of confidence in both and Leo is trying to buy more time as usual... The only other survival option would be a RS and hope the MFO "continues to finance" while a partner search enters year 3.