Ann: Funding Package, page-44

Yep. I fully agree with this definition - particularly in AVR's context.

As I said, I think you are better off with diluted shares in a company that has sufficient working capital to survive rather than your original % ownership in a company on the verge of bankruptcy.

However, I would like to see a detailed plan from management on how they intend to invest this money and when they expect to reap the benefits. They would have had to share a detailed business plan with the new investors. The good news is that they were happy/excited by it. I would still like to know what we can expect and when - in particular, when do we expect to be profitable?

Would also be interesting to know whether any restrictions have been put on this money. If not, then they are clearly happy with the current remuneration setup. May be that they will push for management to take less cash and more shares/options (that is what I would do).