So having run the company into debt, failed to produce and...

So having run the company into debt, failed to produce and profitably sell mineral and destroyed share holder value the Board says it will give current shareholders the first opportunity to recapitalise the Company and support their existing investment. In other words no one else will invest a cent in the company so share holders are left to either recapitalize or lose the lot. Do they have a credible path to profitability that justifies the recapitalization? Do they have a path to profitability that can be paid for with the money they hope to raise>