I think it will be a deeply discounted raising. Why in gods name...

I think it will be a deeply discounted raising.
Why in gods name would you let the financial situation get into such dire straits, Terrible management.
Unless there is no takers for the CR.

KNL will be looking for money fairly soon and they are much more advanced than VRC and would have an easier time getting finance but I suspect a deep discount there too, MNS towards year end will be raising and I'm sure there are lots of other graphite players that will be needing more cash this year, SYR again perhaps.

IMO It seems the main holder isn't too happy with the performance of management and has (at his own request to save his capital) been given a seat on the board to try to turn things around.

Its not nice to see any holders lose any money but the lack of all holders on here in taking any advice onboard or engage in productive discussions has led to huge losses which could have very easily been avoided.