Unfortunately raising capital in this market is the equivalent...

Unfortunately raising capital in this market is the equivalent of being in a lion's cage - expect to be mauled. If you are lucky, you may survive.

I know this capital raising may be the start of an ongoing dilution in shareholders equity for some time, but for a few cents I see the stock as worth a punt. I am under no illusion that the current decline in the stock may turn out to be terminal (like you Jef based on previous experience + gut feeling), but if I assume I am going to lose everything and keep the stake low, there would appear to be some upside worth chasing based at a 2-3 cent entry level.

I look at a company like NXS though with a much stronger asset base and see how they are struggling. I can't see any value above 2-3c max for the time being in this stock.