When to pull the trigger on a $2 million CR? The company will already be talking with brokers. If there was anny support, institutional or otherwise, for a raise without a hefty discount, you'd be in a trading halt. The fact that a CR is not imminent has nothing to do with it not being required, rather the interest is next to zero. Consequently the company is forced to seek help from local banks for an overdraft but in the absence of signifcant revenue it won't happen. Accordingly the company is focused on delivering operationally positive cashflow margins within the next 10 weeks. That sounds wonderful but the only people buying that story are existing shareholders. Institutional investors, sophisticated investors, mum and dad investors, Tanzanian banks and potential European, US and Asian customers are collectively saying we don't share your optimism.
The unfortunate outcome of delaying the CR is a lower raise price.
If Lindi can quickly turn things around on site then it will make the company. Conversely, if it can't, it will break the company.
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