Fair call, 'countless other ways' is perhaps a bit of an...

Fair call, 'countless other ways' is perhaps a bit of an exaggeration, although I do believe they are going a bit premature on a low ball takeover.
They still have growing customer receipts, expenses can definitely improve although they are not out of control. They should be receiving another R&D rebate shortly.
With better comms and planning they could/should have handled this much more proactively. I've seen far worse businesses raise funds either via debt or equity.