I'm okay with there being a CR if a CR is necessary. And if it's a small raising I'm okay with it being only for "sophisticated" investors because it can be done so much faster and cheaper.
What has me concerned about here are questions about the underlying cause.
What has happened within the last five days that:
1) Could not have been foreseen.
2) Has created the need for a significant amount of cash.
3) Requires that significant amount of cash in such a rush that we need to discount so heavily.
To me, this signals something along these lines:
1) A threat that requires an instant response: legal/regulatory action, patent/licence attack, key-person risk... OR...
2) An opportunity to good to pass up: business/technology acquisition, partnership... OR...
3) Another situation where lack of experience/expertise is biting us
Not all of these possibilities are good. I'm holding my breath... turning blue for number 2)
RAP Price at posting:
27.0¢ Sentiment: Hold Disclosure: Held
