not again, page-5

a few questions Points.
1. New raising of $4.5 m.
2. Cash in hand $2 m
3. Outstanding Cornell facility $8.6
4. Prospectus sec 3.1.2 there will be more fund raisings.
Questions
1. Why does MMN need $15 between July & 20 September when the 12c options are due?
2. (a) Why does the board beleive the September options will not be exercised?
(b) If the board beleives the options will be exercised, why does MMN need $23 m before cash flow from silver sales in November?
3. Is the board trying to force down the MMN SP to ensure the Sept options are not exercised? If so, why? If not why do they need so much money?