Of course, what you say is correct. But the majority of cash burn is in Block 9, so the Chair's comments are relevant. Raising via the 10/12 Rule can be done at any time, without shareholder's approval. So assume that it happens, you have a 10% dilution (0.3 cents, roughly) and a $10 million cap raise (to bolster general operating funds). But at this stage it is not needed.
Some scare mongering out there by the usual suspects at the moment though. These are people who don't hold MAY and are merely here to sh*tstir or try to convince you that their own little poofarm is the one to set camp at. Got some of them (like that Sep guy) on ignore, and it makes life so much more pleasant!
For my 10 cents worth - somewhere around here it will bump along, and will start to lift once the annoucements start.
Kit.
MAY Price at posting:
2.9¢ Sentiment: Buy Disclosure: Held
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