Thoughts on IMUOD?, page-202

Thanks for this greystone.

I'm a bit confused by this hypothetical situation, and IMO couple things don't add up here. It seems too much hypothetical incompetence or illogical?

Hypothetical a board that raises and by doing so dilutes its current SHs by roughly 20%:

• "although we don't need to raise ". Seems to be eroding sh value on a whim? And they destroy the current options.
• doubly doesn't seem to need the money as "by then we will be so far in the money". Catalytic growth enables easy raise at WAY better terms.
• And might also be getting massive millions from option conversion then too.

Sorta seems like triple doesn't need the money right?

So, hypothetically, imagine a board that makes the following decision: raising money you don't need, any requirement for which will be cancelled out by near term catalytic growth anyway - when in that near term they will be getting millions from options conversion even though they don't need it as well - but dilutes existing holders by 20% and kills the current options in the eyes of SH who you haven't really talked to about it?

Too many layers of hypothetical incompetence to believe anyone could be so stupid.

Honestly, this hypothetical story really takes the cake it does. Thanks greystone for letting us know.