I, like a lot of people are disappointed with the way this has all happened, but have you given any serious consideration to the actions you are proposing the company should have taken? Let say Coby did cancel the CR as you have proposed, what do you think would have happened? My guess is the market would view it as a failed capital raise, questions would immediately start over when they will try again and the share price would probably be down much more today than what it is, and continue to decline. This would then leave the company in the position to try again at a much lower price, or to hold off for months while the dust settles and hope the share can recover to a higher price, which might be difficult with the spectre of a CR hanging over the company the whole time and the focus on reducing funds being talked about more and more.
What if this money is required to take advantage of an opportunity to expedite revenue? I don't know if that's the case, but do you know thats not the case? Would you still advocate that the CR should still have been cancelled and the early revenue should be foregone?
My point is, we don't have all the information and likely never will. A capital raise was necessary at some point, and with the damage mostly done, why not get it over and done with. If in December you said to me, we will draw a line in the sand at $5 for a new base i would have jumped at it.
I personally trust management to do the right thing by us, as they have over the past 5 or 6 years I have been invested.
This CR removes any doubt about our funding. Its all about commercialisation now.
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