"But surely we are nearing good things, despite the snakes?"
I was hoping the same thing, up until I saw this. I thought that the original offer was just Reveley lining his pockets (with the board's blessing)but the lack of reasoning behind this raise leaves me feeling certain that there is no good news on the way.
Q: Why would you raise funds now for "general operating purposes" when there is an approval from the FAA on the way which would put a rocket under the SP?
A: There is no approval on the way from the FAA.
I have no other answers here - I certainly have no faith left in the BOD ... they don't seem too interested in doing their jobs at the moment (you know ... like protecting shareholders' interests ...).
Ann: Capital Raising, page-38
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