Doesn't look like it's a contingency because they already...

Doesn't look like it's a contingency because they already started to use the funding agreement and it's pretty clear to me the effect on the s/p. So they gave them 4.6m shares as some type of app fee or thanks for screwing us fee ( which obviously are being sold now ), another 6.5m shares as a first tranche a few days ago at 90% of vwap ( coming soon to market ) and they took up one convertible bond. I'm glad I waited on this one ( suspicious of this type of funding ) because effectively the directors buying propped up the s/p for these guys to sell into. The buy signal was actually a foil for the sell.

The problem with these type of funding agreements is that it's like having a cap raising every month and I suspect in most cases it would better to do one or two heavily dilutive cap raising because the effect on the share price would be the same in the long run and at least share holders would get some chance to take up the heavily discounted prices. The only way to negate the effect of this ongoing dilution is to bring out regular buy worthy announcements and introduce new holders to the stock.