You also need to bet on the motivation of the 1c CR.This was...

You also need to bet on the motivation of the 1c CR.
This was asked in the webinar, with a totally unsatisfactory answer.
Which leaves me to ponder.
It could be that this is infact a great opportunity, and predator sale event could occur in the cash runway, hence a "for mates grab". Then the question is at what monetization value ? For newbies at 1c, in that case all is good.

/ or from a 3c prior, they felt so poorly about that same market that was supporting that value, the same market would not sponsoring a 2c raise, who did they ask ?.

I would have thought that they would at least try a CR at 2c, and promote heavily. Especially pending FDA.
1c = i smell a rat in the cheese factory.

If thats what the market was really telling them ? Which market ? that one that was paying 3c ? or the big boys shoulder they tapped on ? Big boys always want the surety of a return. Hence the discount to reflect a bouncy trade.

My first thought on this rights price, outside of the sentiment, was that simple buoyancy of what the market valued this before at 3c x 1b shares = 30m mc. After at 2B shares = 30m mc = 1.5c or taking into account cash and EV, then before 30m - 3m cash = 27m ev. After ward, same EV = 40m mc -13m cash = 27m ev. 40m mc = 2c.

Now the question, does the 1c raise, tell the market it should me More or less bullish than it was before ?
Has it damaged confidence or added to it ? Is it a foretelling of doom ? or monetization .?
Either they dont believe in their own prowess to make the case for a higher valuation, or they are lining this up for mates to make a decent return on.

There will be holders on both sides of that sentiment coin, and it only requires one side to the flood to allow my preferred options trade to occur.