Consolidation, page-55

Their only hope is to get the capital raise away if 1.6 million - but only half of that is underwitten . They would have to finance most of the $800,000 because the public is highly unlikely to support it .

If they can get the cap raising away, the underwitter will get stuck with half the shares, which may be an overhang on market & continue the downward pressure on the shareprice .