That is so true. This stock is mistakenly being considered to be a financing deal like all the crappy "Cornellesque" type deals that are out there.
The big difference here is that this company is making money. Most, or maybe all, of those others are not. So this deal isn't that bad at all.
Like you said, there are anti dilution clauses and only so much can be converted at one time. Having these things in place makes it safer.
I suspect that what you suggested is going to happen. That would be that this stock will probably get over shorted. It may be already. Watch what happens to this stock if Raley starts paying off the financiers in cash. Whether it be from their revenue stream, or from conventional financing won't make a difference, those that are short will get killed.
Suffice it to say that I'll be holding shares of this stock for quite a while!!!!
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