I previously held MRC but sold in July after the CR was...

I previously held MRC but sold in July after the CR was announced. I was first alarmed when Jack2000 posted 20 May "Does anyone know why the cash balance is sinking". I thought 'a good question' but no answers came forward; even diehard MRC supporters were quiet.
Then the CR was announced in July and included $2.86M for 'Corporate costs and Working Capital'. Now I've always believed a successfully operating company should be able to cover its corporate costs and working capital. By now it was clear to me MRC was bleeding money and I baled out at 14.5c. Avoided the CR with a barge pole but copped a $6K loss on my exit; but have never felt so relieved to exit a company, albeit for a loss (I feel big time for Fulang66 with his $200K loss per 26 Nov post.) Then on 29 Oct Fjordinvest opines that without the proceeds from the sale of the LV Cycle then MRC could possibly be without cash despite the CR; I saw merit in his comment. MRC's seemingly still bleeding cash but I haven't figured out where. And now MRC is sub-10c, ...... down periscope ???