I haven’t followed closely but could the reason they didn’t...

I haven’t followed closely but could the reason they didn’t raise back then be because they’d used that opportunity already? Listed companies can grow SOI to a certain percentage yearly and at times seek shareholder approval to increase the allocated shares to sell. They did raise before it took off, I remember because Jeremy used his own company Churchill as the corporate broker or whatever it was they did, got paid a few $100k too.

But yeah the logical move would have been raising some decent cash when SP was trading at much healthier levels, if that was permitted.