Dilution hurts any way shape or form.
If you believe in management you will agree that the facility is there for a reason. I don't subscribe to the opinion that its function is to stop a hostile takeover, that concept seems kind of ridiculous to me given the small quantity in comparison to current SOI.
It's there for R&D and working capital, and in my opinion a spike to yearly highs, and quadruple the low would see a reasonable person consider the possibility of the facility being drawn on.
Why do you think its there, and when do you feel LPD is likely to draw on the facility?
Ann: Lepidico secures $7.5 million facility & 3B, page-180
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