Perhaps management didnt do as large a raise, as they think they may have enough cash on hand and revenues to see them thru to April 2017, with all those oppies now in the market, if they all get converted CL8 will have enough cash to get through 2017? ( although a higher exercise price would have been better IMO)
Just a thought
GLTAH and DYOR
Ann: Collaborate Corporation completes oversubscribed fundraising, page-26
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