Agree. Where I think their arguement is currently supported is that the company is probably raising some money recently and frankly, they'd be stupid not to.
I would assume this will not be a process that continues indefinaatley. Because of it, they're probably in better shape now than at any point in the past. If they have managed to see a 300-400% increase in market value while adequately capitalizing the company and only slightly affecting the capital structure and alleviating a bunch of toxix debt then bravo!
If what they have done recently positions them for finally unlocking the value of current assets while enabling them to possibly explore the acquisition of a producing property, then good work. You can't win the game from the sidelines, you have to do whatever is needed to survive long enough to have a chance at victory. Some want this to be a sprint, maybe it's a marathon.
The good thing is the disparity is so huge between perception and possible reality that any tangible progress should yield a nice increase in shareholder value.