Ann: New York Gigafactory Progress, page-25

Hi tony,

Your analysis only tells one side of the story of the majesty of MNS capital raising skill.

One might ask: in the interest of "not diluting the hell out of shareholders" why did MNS not raise all the capital it needed when the price was around $1.10?

Would have made a lot more sense for "not diluting the hell out of shareholders" doing a capital raise at 40 cents, or any other price that far away from $1.10 two years ago.

In other words, a capital raising at 40 cents dilutes shareholders about 200% more than doing it at $1.10. Further, any time of the last 2 years of MNS' downtrend it could have raised capital at a better price than right now (but side sitting at 2 year low of 36 cents). So how is MNS timing of capital raises anything to gloat about?