A simple cash raise is just kicking the can down the road to its...

A simple cash raise is just kicking the can down the road to its inevitable demise, particularly considering the low valuation that they tanked the company to.

I'd find a raise more acceptable if they had a solid plan in place to get the company back on track. The absence of a clear strategy to overcome the current challenges is the most frustrating aspect.

Additionally, those convertible notes have severely damaged any potential for attracting new investors. This should have been foreseen when devising such an ill-advised strategy which put the company into such a precarious financial situation. Time will tell but I don't have my hopes up.