They have to continue to raise funds as there isn't enough revenue... yet... for them to not turn to the ATM.
Once Sawston is up and running, I'm hoping that changes dramatically, but we'll have to see.
It looks like the first financing at $0.17 was done probably based on the ten days of the 1st and the 14th of May:
1 $0.17
4 $0.17
5 $0.18
6 $0.18
7 $0.18
8 $0.17
11 $0.17
12 $0.17
13 $0.17
14 $0.17
173/10 days = $0.173
And it looks like the second financing at $0.225 ran from between the 11th and the 26th.
11 $0.17
12 $0.17
13 $0.17
14 $0.17
15 $0.17
18 $0.18
19 $0.19
20 $0.21
21 $0.24
22 $0.33
26 $0.37
226/10 days = $0.226
So some of the run up was included in that financing. Whoever did it likely supplied the funds quickly when they saw the share price start really start to move.
I hope they data lock on time. I thought they'd data lock on time. But we still have yet to see if they'll do so promptly by the end of May.
Finally, I'd prefer this financing be announced after hours on a Friday, and well before Monday open, they announce data lock. But will that be the case? We will have to see.
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