Is the train leaving the station?, page-136

10c has more chance. They were losing money hand over fist and would need to have raised capital several times with no likelihood of profitability this side of 2020. This raise would be for four times the amount of shares at half the price. That would be needed as the gap to profitability as projected would be much larger, even this raise wouldn't have covered it. That's real dilution, . WP may not be perfect, but compared to LR he's arguable progressed the company twice as far in the same time. It's only $6m FFS.