post april 30 financing, page-4

I agree with both.

In the short term it's probably best to do a quick local dilutionary placement to get $1-2m in the coffers. Then do a single up front deal for up to $5m in cash but don't set this as a precident. Once the spectre of 'shares available' is gone you can work on an AIM style listing and the SP is free to run a bit - hopefully to a 10c level where you raise about $5m out of the offshore market. This should leave the company with the cash required to get through to the option exercise zone and another $10m (this is likely to start dripping through exercises in late 2012 and 2013 so really they probably don't need as much cash as I am suggesting but the key is getting rid of the company as a seller of their own shares.

Either way it is obvious that in the short term demand for shares is at least equal to supply even with laJolla there as the SP is maintaining it's level in a negative market. It looks like it could creep into the 3s over the next 3-6 weeks which would change the way people percieve it's behavior and have many talking about it having turned the corner.

I wonder if it has.

My money is where my cautious but optimistic mouth is.