The emporer has no clothes, page-159

Ozblue
I see what you see - a slow train wreck . However your previous post painted a picture that suggested last quarter was operationally a 52mUSD outflow quarter . It was not, as they built up inventory for a Dec quarter delivery - so in essence a timing difference between production and cash delivery. To imply they are losing 52m uSD per quarter when they had 25m odd in cash end of Sept suggests that they are going under within days/weeks.
I agree that they are in serious serious trouble and a massive dilution is the best option , and even though the dilution will be of such magnitude to result in massive wealth destruction for existing positions , it provides a better Short and medium term outcome by allowing those willing to average down agressively to recoup losses in a U price recovery and is a lot better than the alternative which is VA