With all these impending contracts the best we could do is raise money at 32c?? That's what the QVT loan was for.
No this money was required because the piggy bank was empty.
We are now in a poker game - will we get a contract before needing more money. They've bought themselves time by raising so much.
With so much optimism and confidence I would have thought we might have been able to negotiate at better than 32c...maybe there's nothing substantive and they had to take what they could get...
not so bitter pill after all, page-12
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