I pondered that same question while polishing the finish on my Bentley today
WTF were management thinking?
$6m raise is way too small, I would say $15-$20m would be more like it..
Management costs alone are approx.$2m per quarter.
Now in regards to the options and shit.
I assume management is banking on something getting a sniff of a contract, sometime soon.
Anything with a heart beat will do at this point.
However, my spider senses tell me that there is an issue with competition chasing the same opportunities.
This comes down to sales, negotiations, product performance and future enhancement.
So if they can bag a deal (contract/Revenue) then the SP will rise above 4 cents and the 3 cent options will be exercised bringing in more cash for ADO.
If they bag more deals then the SP will be over 10 cents and the 5 cent options will be exercised and more cash for ADO.
So there is logic in the madness based on success of the company getting a deal across the line.
Now the SPP is only $1m which is again too small and a limit of $50,000? that's 20 shareholders.
Surely they will take every cent they get from the SPP.
The only issue is that the SP is currently under 2.5 cents.
(20min delay)