IMO the BOD have washed their hands of caring about the long...

IMO the BOD have washed their hands of caring about the long termers quite a while ago (so much for loyalty). They clearly have no deal in place and do not expect one anytime before money runs out. Decided they had milked the gullible holders for as much as they could and were worried they are not going to take up their options and are looking for new money to stay afloat. This could easily be the future for MNC for a while, living from quarter to quarter. MNC has a great asset but the BOD has little skill in selling it IMO. I understand them issuing at 0.4cents as no new investor would be willing to take it up at half a cent as they know the BOD is desperate.
Disappointed in the BOD - absolutely! Surprised - no . Their hands (BOD) are tied partly due to the current environment and partly due to the lack of real talent among them IMO.
I am sure some will disagree whole heartedly and I hope they are right and all long termers walk away feeling relief with the future share price but for now most are tired and concerned.