Also, what price will they be selling their product for?
This seems to be the most important thing we all need to know.
Maybe they are happy to break even on Hombre for the first several years, if it allows them to stay in charge, and then expand into Candelas?
Really seems to be a case where the incentives of management are not aligned with shareholders.
Also, if they don't raise the entire amount they need (or can at least convince the market their financing travails are behind them), then the dilution spiral may continue for some time to come.
Anyway, we really need to see the term sheet details before making any final judgment.
GLN Price at posting:
12.0¢ Sentiment: None Disclosure: Not Held
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