I don't think it's as bad as everyone seems to think. The rights...

I don't think it's as bad as everyone seems to think. The rights issue is renounceable. Just sell your rights if you don't want to take them up. How else are they going to get this project off the ground? At least they are offering ordinary holders the opportunity to participate on a pro-rata basis if they want to. Many times they would just go straight to the institutions on the register. Stock has been consolidating for ages, i personally don't think now is the time to bail, though i am new to the stock.

Disclosure: Very small position.