cure for cancer ! & still 1.7 cents !, page-53

You could be right DW2. Wouldn't it be nice to have a Tardis and jump to the future to see?

The way I look at it we have to start with a view on how much money we need and then work out how we are going to get it. Given that $8M only lasted two years and we have an increased burn rate in the future my guess is that we will need $12-15M ie, almost our current market cap. As I said savvy investors would never accept this capital structure so I agree with you, if there is a placement, consolidation is almost certain. Not only that but five percent, ~$800K, is a drop in ocean to any large corporate investor so why a 5% minimum figure? It's like saying we would like some investment but not too much. It would seem that some other source of money is also in the mix but what that is is anybody's guess.