Non Renounceable Rights Issue

A rights issue, probably non renounceable, announced at the AGM.
SP is too low for an RI in my opinion, it is likely to be met with a sell off and will probably fail altogether.
There will be massive dilution if the RI succeeds.
Only hope for an RI is a breakthrough but there is no hint of real progress in the AGM presentation, just the usual ....
Look what the RI funds, they are launching into yet another new area of research.
Not commercialising a single product while heading off in a new direction is a recipe for bankruptcy.
They need money to establish partnerships? No! They need good commerce ready products to establish partnerships.
Not sure why the SP hasn't collapsed back to 1 cps? Puzzling.
Changed my sentiment to sell.

my opinions DYOR