4c fair value ($30M), 8c short term target ($60M), page-1448

The opposite of not raising capital is running the kitty to close to the bone.

New investors will look at low cash on hand as an impediment to jumping on board.

A fully funded cash balance for 2+ years provides a buffer for BAU activities. A raise that also includes an acquisition isn’t out of the question.

A CR done at the right time, to the right holders, at the right price and for the right reason can be a boon for existing shareholders.

The MC might have doubled but their bank balance hasn’t.