I suppose the only real question in financing is what is the dilution going to be? Rights over pilot extract minimises that of an all cash plus non-Arena assets caveat. It's mainly only retail investors left there, so do't have to worry about burning corporates or old money which might harm future ventures.
Inevitably, it goes down before any upside is visible. Get through the bail out sell off next week and then work out the upside from the new low point established sometime after that.
