That's the point Kath.....we don't know anything.
My biggest concern (and I actually wrote about this a while back) is that management is only here to line their pockets. The more they can delay a successful outcome (if the case), the better, and they can simply acquire more shares via options.
This offering, no matter the reason, could have been executed at a MUCH higher price. Announcing to the world you are looking to dilute shareholders through an offering, and not indicating at what price, is a recipe for what just happened. We basically got double screwed by way of price set at 0.36$ and warrants at 0.52$. Any educated person (especially management) should have known this (or something similar to this) was going to happen. This is what concerns me: either management is greedy or incompetent; neither is good.
Worst of all, I find it hard not to deem them dishonest. We were told a very short time ago that no short term capital needs were on the horizon....and now this. Why aren't they saying anything? What is their rationale for doing this......because I truly DON'T see the logic.
If this ends up as a take private management will have MUCH to answer to. I'm sorry but just don't see the silver lining here. So many errors on their part, or worse calculated deception.
Sandman
