While authorized is not the same as issued, out of money is out of money and Cortex is on fumes.
If Cortex doesn't raise a significant amount of cash with a deal in the very near future, where will the company get funding from?
It's pretty reasonable for investors to fear that Cortex will get funding from the same source the company has gone to for the past several years - selling shares via PIPES.
Hence it seems that most board readers are of the opinion that if Cortex announces a reasonable deal and lays out a believable road map, then the additional 100M authorized share may make sense and be palatable.
But without a deal and a road map prior to the vote, more painful and frankly obscene dilution to no apparent good purpose is a legitimate concern.
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