Ann: Investor Presentation, page-40

the reason why they would raise now, is because undertaking a capital raise is difficult and sometimes lengthy. add to the fact that the sp is getting no traction from the announcements and you get a little urgency to raise before it drops even more and dilutes the sophisticated investors that jumped in on previous raises. they will no doubt be getting call from those investors questioning "what is going on?" "why is the sp back where we were last raise" "what are the near term catalysts" "where is my exit point" etc etc. its not fun to be on the other end of the line when you are getting those questions day after day. when you are tiny company like lvt if you have the chance to get the money you take it you dont fuss around waiting for the sp to maybe go up when you are losing money hand over fist - you dont risk administration. you pump with announcements and then raise, they know the sp wont go anywhere when the market knows they have to raise.