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This is precisely the reason why most companies with sound management do short and sweet CR in one hit to sophisticated investors.

Trying to get tricky with SPP's and several tranches of shares with lots of conditions is asking for trouble.

They havent raised $6 million at all. They have rasied $2 million and destroyed the SP in the process.

They would have been better off just raising the 2 or 3 million in one go at a large discount of say 1.7/1.8 cents and we would still be trading at around those levels.

As T4P said, they may be good scientists but perhaps they need someone on the board with good financial and deal making skills.