We all remember what happened in June....from over $2 when the overnight financing was announced, then the PPS kept falling and didn't find support until it had dropped below $1.30

It seems to me that, having kicked the can down the road with the extension of the loan.....now they need some cash to keep the car moving so they can catch up to the can.  This raise will probably get us through Sept and into October....and if we're still waiting on the FA and a larger licensing or similar type deal, then we'll probably be looking at another raise.

Seems a reasonable approach to me.....assuming a deal is close.