Yes, I agree. I am not talking about as to whether Stelfonta has capabilities of earning revenues. The real issue is that the management should manage capital raises very carefully. Why raise excessively now when you would potentially be raising at a higher price later or during IPO? Do not forget we will still have to raise for IPO. In addition, the company had a cash reserve of approx $20 million prior to the raise. Instead they brought nearly 100 million new shares to the register. Always remember in the world of stock markets, low shares on issue is absolutely a key to success to long term investors.
