Anyone who suggests dilution will trouble few of us, is...

Anyone who suggests dilution will trouble few of us, is completely missing the point.

If you're only judging performance based on what happens from here on, then yes.. it's the CR we needed to have as without it we most likely cease to exist. Based on this alone, then yes diluted me and give me a chance of success because the alternative is much worse (but don't forget success, is still not guaranteed...).

BUT why should we look at this event in isolation

1) we've been here before, many times in fact
2) we've heard it all before, many times in fact
3) we were supposed to be able to transition to a revenue generating company after the last CR (and the ones before that)
4) we've been diluted more than enough times in an attempt to add shareholder value, many many times already

Do we simply ignore all of the above?

Arguing that the dilution is relatively insignificant in the grand scheme of things is absurd. We were already told deals were coming, it was unlikely we'd need further dilution, yet here we are again

The facts remain, we're been diluted HEAVILY over the years, continue to be diluted and whilst we're all hopeful of a deal, there's still no guarantee nor are even given any confidence that we're getting close to one

You can believe it's only a little bit more dilution, but you are only fooling youself and again I ask, where's the accountability and consequences for constantly over promising and under delivering ??