Ann: Private Share Placement, page-19

Very interesting indeed.

Could be a great sign or simply a last grasp effort to stay alive. Management in very deep. Emotionally and financially invested. Director don't always get it right. The motivation here is profit for the director or long term great profit.

Maybe this roll of the dice keeps the long term dream alive despite any short term reality? A private raise from a director is far more palatable that another keep the lights on raise through a broker. Maybe management were too scared to go down that path because it would be another sign of how badly things are really going and a private raise instead shows a bullish signal and not a shite show?