I think you will find the timing of this, and the speed at which they are moving on things, is to do with the PACE grant which is being decided in October. PACE grant dictates that the company must have proportionate funds in relation to the grant size given. With a bit of luck they get a chunky amount of the $8mil PACE and then this raising will in effect be at up to nearly double the new CR issuance price.
No one likes a CR, but this is another way of looking at it.
If the JAWS project is successful this will be forgotten about pretty quickly.
IMO
Ann: Trading Halt, page-7
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