Agreed. The quality of money is what matters. I know that sounds ridiculous, but the quality improves the further down the chain of updates you have outlined.
The key question is this.
Can they last that long without a funding?
Just for fun.
What happens to the underlying stock price if tomorrow they release the 2004 updated financials? The linchpin in a key part of the SEC Wells Notice.
What does that do alone for investor confidence?
I know we all know what it is likely to state, we have been already told...by PR.
But what does it do psychologically on a whole bunch of fronts that it is finally officially announced?