The other positive is that once again they only sold enough shares to cover immediate needs. $800K - $250K = $550K which might pay operations costs through July. If they believed the price was going to be lower 6-8 weeks from now, why not sell a few more million shares and secure a little cushion?
The S-3 was a hump they had to get over and it cost them about 2 months according to the last CC. I think they're working to get over another hump cash flow wise and selling the 2MM shares at this time was a necessary evil. The S-3 was done just so they could have this kind of flexibility. I believe they see a point in the near future where money will start to flow and the difference between what they're bringing in and what they're spending starts to narrow significantly such that it's more manageable without resorting to further stock sales at such low prices.
Whether it all works out remains to be seen of course. They're definitely living on the edge right now, yet I remain convinced of the company's integrity and that their plans and partnerships are solid.
Besides, what good can come from worrying about things that may or not be happening and over which I have no control anyway? I've staked my claim and I'm here for the duration.
- Sinkman
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