You can look at it which way you like but this end result is...

You can look at it which way you like but this end result is failure, this company has failed before, albeit with different management, but bottom line is they are either not smart or desperate, raising at this level, or dodgy and funding their lifestyle. Either way there is nothing positive from this. They met with all these potential partners etc, they could have struck a deal with one of these, or perhaps got the saudis to invest. They either failed at this, as we can see from the cap-raise or were not smart enough to think of it.