Proga,
Re your point one, I seriously doubt that the forthcoming raising will be at much of a discount at all. With a much poorer story, James raised capital from HEP at a premium, and repeated that with the Swiss. Even the SPP went off oversubscribed at 25 cents when the market was around 24 cents. He has shown a remarkable ability to raise funds without deep discounting that should be the envy of all non-AZZ holders. I say bravo to him.