No 'advice' mate but I actually did consider topping up in the...

No 'advice' mate but I actually did consider topping up in the 30c+ range as well.
That was until this US$1.4M loan shennanigans at the 20% rip-off rate.
If it were at 10% then I might have just held, but not top up.

The main alarm bell for me (outside of the ripoff rate) was in trying to understand just why do they need the money ?
Have their partners pulled out of the SPV ?
If they need cash now, and they're still chewing through so much, how long will this 1.4m last and with the burn rate as it is, I figured they'd need even more cash pretty soon. Might well be wrong.
In that event, where would they get it from ?
Osagie ? Another 'loan' at another 20% ?

Did they approach other private investors to raise cash and got knocked back by everyone ?

They had just received $919,000 R&D tax refund in mid-April for goodness sake!!

Is the recent sp rise fabricated to sucker people in ?
Not hard to do considering the low quantity SoI.

Why not simply do a CR ? Couldn't offer one at a discount on the current sp ?

They only submitted the paperwork to the FDA in April and possibly too soon to have a response, but there isn't even any news on recruitment of subjects for the trials....

For me, too many things are off base and IF I were a new prospective investor, I wouldn't touch them, no way!

Couple all that with still huge and unreasonable expenses as well as barely $40,000 per month revenue ($121k in the Dec quarter and only $141k for the 6mths to Dec - 6mth avg is $23,500 p/mth) and those were my own reasons to sell virtually all of my holding.

Good luck with your decision and HOPE it works out for the better for everyone.

GLTAH