If they hit BE or profitability then, in my opinion, they still need to do more placements. They need to raise capital to expand and have cash reserve. I feel they would also get a much better price for the shares once they hit BE and should get it while they can for the best price they can.
Moving from placements to survive to placements to pay off AR to placements to expand will be viewed as a positive.
They could use the more traditional method of using the credit market, but they aren't ready for that yet.
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