terrible if they raise more. the amount of dilution on $4m raise and there is unlikely to be material news for a long time. I guess they need this amount to keep the lights on, cash burn looks about 350k to 400k for per quarter.
if I'm not mistaken they will convert the loan to shares at 20% discount to the CR. the note holders are definitely the winners
MTM Price at posting:
11.5¢ Sentiment: None Disclosure: Not Held
