capital raising expectations, page-23

Thumbs up from me, Boomer, but here's the thing:

I think that you are describing a scenario that has basically already mostly played out. The cards you mention, cellucreme, CSL, Phusion Labs, the mastitis treatment, the psoriasis treatment, etc. either are a bit too far over the horizon or require in house capital to be credible.

It's always said that you can't bluff with an empty gun. I don't know that that is strictly true, but you sure can't bluff with an empty gun if the other side knows it's empty. That's were we are without "ammunition", i.e. CAPITAL, cash in the bank to make good those cards you mention.

The company has to be seen as NOT bluffing, and to do that it needs to have sufficient operating capital to be credible when it says "we can wait" until later to do the OXY deal.

That's why at this point I accept that an infusion of capital is needed, despite my previous hopes that the company could avoid the dilution. It is now essential and it will happen. I don't know what form it will take, but the company has been emphatic that it would not allow the company to suffer from lack of cash. So, whether it's a last option - and I think it isn't any longer an option, it is absolutely essential - or a primary strategy, it is coming and soon. I think we'll have the outlines of the deal by Friday, the 18th.