Grays acting like a master penny stock scammer at this point. Talking about needing new blood "investors" and then he goes and lures some "Cayman Island" Investment firm with a shelf offering. Shareholders should have his head at the next Conf Call. Of course, he doesn't take questions....
I could be wrong only if they they put out a PR spelling out some details on when the payments get triggered and maybe ensure only cash is used to make these payments, not buckets of shares.