Well they're basically out of cash and it's at least a couple of months until the award funds would come through. This potentially buys them time til then.
I'd be inclined to agree raising after would perhaps have resulted in better terms but then again the overhang of a Cr may have held it back also.
The good news is that they don't pull the trigger on $2m which is what they would have if it was dire straits...
We will find out next week I suppose.
Ann: Trading Halt, page-30
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