No underwriter (in their right mind) would want 61% exposure to a company that:
1. Hasn't even begun drilling,
2. That has been promising a 'big' JV for 2 years with no results
3. That has 'announced' a JV without even announcing who?
4. Which burns through money like there is no tomorrow - $774K last Q - no exploration - no drilling
5. Even its own investors won't take up an issuance of 0.075 when SP is 0.10.
6. Has a 'Towner' is involved.
Cornerstone got nobbled.
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