They may not know the exact approval date or even the ballpark timing, though they probably feel confident about getting approval. I’m guessing there’s a lot going on within the company right now, and they badly need cash, so they may not have the luxury of negotiating hard with financiers for better funding terms. And if they already have a reverse split in mind, this level of dilution may not matter much to them. Again, these are all just my assumptions. Let’s see if we get any clues in the next 10-Q.
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