"Why didn't they reward current shareholders with this deal rather than go to sophisticated Investors?"
2 reasons - Retail is so unreliable when it comes to raising money, company probably would of only got half of what they needed & Sophs ALWAYS only want it for themselves, they don't want to share with retail, they figure if they take the risk they want the entire issue (well that's what the brokers push for and they also get a piece of the pie) plus bonuses.
MLS Price at posting:
0.5¢ Sentiment: Hold Disclosure: Held
