Reality is the Georgia project doesn't start until q4 2017. So...

Reality is the Georgia project doesn't start until q4 2017. So you would have to assume if there was a CR it would be around q3 2017. Of the 37mil they mention incentives CR and cash flow which all makes sense.
Reality is the colarado project will be completed by then and let's assume they sell the whole product which isn't a big ask given GDoT requirements going forward.
If they do a CR then you would have to assume given the progress above that the share price might be around 35 to 40 cents (low balling). They would probably only need to raise about 10 to 15mil max at that point which would mean minimal dilution.
However the only sad point I believe is that given TAS owns so much of this company I don't think they have the cash now or will then to help out in a CR. Therefore have to assume instito investors or hedge funds will be used again then. Sure annoys me and prob most others as well but end of the day it gets the final CR done in my opinion.
Either way as long as this company keeps hitting its milestones I think the key is for it to start selling and moving forward fast.
Ultimately don't forget that this approach dilutes Solomon as well.
This scenario is so far away I wouldn't even worry about it. Reality is March 2017 is when you need to next work out your approach.