For those who do not know the history of what happened under the...

For those who do not know the history of what happened under the original equity credit facility before it was amened back to 30 million, this is what happened last time they got shares for the set up of the facility and first 250k drawdown.
The share price was over 7 cents at the time and once they got there shares the share never stopped falling until it reached 1.6 cents that resulted in a highly dilutive placement at 1.4 cents and other placements between that price and 3.5 cents, the company obviously realized the harm in issuing shares to a creditor that would sell the shares on market straight away.
If the company waits to the 4th quarter to raise capital, they will be at the mercy of the credit facility or other potential investors who will expect a huge discount.
The smart move forward is to raise now, enough for another two of three quarters, 20 to 30 million now rather than risk a collapse in the share price when the market realizes the company is running out of cash in a few more months time.
Management needs to wise up and wise up now.