Ann: Trading Halt, page-212

I think everyone needs to keep things in proportion here. The train hasn't derailed. Given the new shares were already in escrow (for purposes such as this) the CR isn't diluting the existing shares in any unforeseen way. If a big partner comes along and wants to fund SAS they too would take a big chunk of the pie and get it cheap - just like a CR. The big partner is the better option as they bring industry contacts and experience with them and the backing of an industry leader would create some financial stability.
A CR means the share price will almost certainly drop which sucks, but it also means they can continue to operate, build the company and launch a batch of pearls. Like The train is still on the tracks. This buys time and establishes a stronger position to negotiate any partnership deal going forward. If the company is able to find plenty of customers and funding on their own they may even decide they don't need a partner after all.