Finally, someone with a clear head. I'm never thrilled with dilution like this of any stock I own. However, there is something worse....like running out of money. Quite a few have stated there is $25M is the " bank " and enough to last us a year at current usage. Some have claimed a 2 1/2 year burn rate by using $10 M per year. The estimate I saw used was $10 M to $25M per year. Using $10 is a bit dishonest, in my opinion. The upper figure would be closer to what may actually be spent. We'll see. When you go looking for money in a year, can anyone guarantee it will be there? Maybe yes and maybe no. I don't like maybe's, so I'll opt for money in the bank. I oposed the take-over via the proxy route as much as anybody. However, R.N. did work to get a board he gave his blessing to. Granted it was not what anyone wanted, but as he said, it is the best he could do and he approved. Being the man we all think he is, I do not think he spoke those words if he did not mean them. He would have graciously stepped down and remained silent. So I accept the new board and believe they have done the right thing. I'll live with it. I have cash and do not think the market route is over. Noront is close to bottom and a real steal here, but cash is king and there is some time before this is over. I'd rather be buying again when it get back to 80 cents or so and we can be sure we are on the upswing. Thanks to the writer who posted the interview with Donald Coxe.
