I agree that cash is needed but only if the next few quarters...

I agree that cash is needed but only if the next few quarters revenue doesn't go skyward.
If funds were to come via a share placement you know as well as I that, as you have identified with the large number of shares already on the register, it would be wise for the company to do the cap raise at a much higher share price than where it currently sits. As an example I have 3 scenarios in the event that a share issue is used for a cap raise. The cap raise amount is for illustration purposes only;
1) No chance - Cap raise of $10M at $1:00 per share means a miserly 10M shares added to the register.
2) Not probable - Cap raise of $10M at $0.01 per share is a monstrous is 1B shares added to the register.
3) Probable - Cap raise of $10M at $0.10 per share is a reasonable addition of 100M shares to the register.
This is why I believe $0.10 or 10 cents is a reasonable target for PIL share price in the near future, regards WSL.