Ann: Resignation of Executive Chairman, page-104

They have access to $55/$56 mill pre any raise. Then there is the cost cutting and project/CAPEX deferal.
There is a lot we do not know. For example how they plan to spend the money. Holders have no idea.
Its a sure thing if they did not have to raise they would'nt. They would just cut cuts and get on with it.
An explanation of how the current cash plus cash raised is planned to be spent would be expexted by holders and should be given.