yes, another placement would be the obvious funding alternative...

yes, another placement would be the obvious funding alternative to the options if more cash is required.

if supply contracts provide $ commitments, then a loan may be the another.

As you rightly suggest, the options don’t actually guarantee further cash injections to the company, but they do guarantee an overhang of supply at low prices which suppresses share price appreciation, limits funding options, and increases dilution.

I can’t see any merit at all in the options. They just gift the new sophs a free stake in the company at the expense of all shareholders.

the introduction to new investors has been made. If they like what they see, let them buy on market and allow true price discovery to take place.

id bet it’s well north of 5 cents once the artificial supply at 2.5, 3.5 and 5 is off the table.