Hi John,

In fact, I am quite happy about this mini financing.  It gives us about 6 weeks of additional runway to bring us past the Holidays season's. I am suspecting that Maxim and Poet management didn't agree about the SP of the financing and probably Poet decided to go for the minimum that they need before securing another form of alternative financing (Private equity pool funding, Maybe Sanan, a commercial partner ready to take lets say 20% in the company etc...)  We do have many viable B plan.  They were working in parallel on a B and possibly a C plan I am pretty sure.  The most outstanding thing is that with the cancellation of the LIFE in Canada and a mini bridge financing, a lot of people are now probably NAKED SHORT. Their idea was to cover their short via the financing ....that won't happen. 

So I am pretty sure that news of another form of financing will be released in the coming days/weeks.  I DON'T HAVE ANY INFO about that, but with the cancellation of the LIFE I am pretty sure that they no longer need to raise money by issuing shares at this ridiculous level.  I mean, if they would have needed this money...why would they have canceled LIFE in Canada? Some of the people on Agoracom have already sold some of their holdings to get cheaper shares and free warrants. Now that won't happen and they might well regret it in not that too long.   Time will tell. 

And

No way Maxim would have raised 1.3M$ from their clients knowing that the company is financially in trouble.  Thanks makes me think that it's Poet who asked to do only this mini bridge financing not to harm us with a ridiculous dilution.