It's actually a decent deal. The 20% dilution is irrelevant given holders are coming in at 10-cents. It is effectively just adding free cash to the company, albiet at an added interest cost.
I find it hard to justify statements like yours because you simply don't understand how hard it is to raise $10.0m. If D13 were to do a private placement it would be raising $10.0m and struggling to fill it at 20%-30% discount to 9.7cents ........... would you prefer that? NO!
D13 Price at posting:
9.7¢ Sentiment: Buy Disclosure: Held
