Wow, I'm actually surprised they managed to get $3m.
But that's more than 400% dilution, or more than 600% dilution if you include the options which are nearly in the money.
In other words, the investors in this raise are buying 87% of the company!
The shareholders of current shares now only own 13% of the company total!
Outrageous. But no other options when the market cap is a million dollars.
