IMO the time to come in on the cheap is the next placement, given they need the money ASAP; it is highly unlikely they will get them away for more than 1.5 cents and you may end up with a stapled option/interest under a C Note or other goodies thrown in for nix.
Given the business risk why you would pay more than 1.5 cents at this point of time to buy on market when they have put up their hand to raise money?
