At present, there are ~1.5BB shares outstanding (1.2BB in the float), but there are only 2BB authorized. That means that any dilutative activity would be limited to ~500MM shares - only $650k at today's prices (not including any discount). There isn't enough headroom for a meaningful funds raise without an increase in authorized or an R/S (with no corresponding decrease in authorized).
In other words, even if there were an old agreement contemplating a further discount, they couldn't dilute more than 500mm additional shares at any price unless they were able to mobilize pretty much all of the 100 pref shares (along with 1+ common shares) which vote/convert at a 1:1% equivalency to the common O/S - ie, it would take all 100 Pref shares to equal the entirety of the current outstanding, and all pref shares plus one or more outstanding common shares in friendly hands to vote in favor of an increase in authorized or a R/S.
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