"These conditions result in a material uncertainty which may cast significant doubt on our ability to continue as a going concern. If we are not able to raise capital, we may be forced to cease operations."

This line from the md&a sent chills down my spine..  dilution or not, any form of financing should be considered better than "ceasing operations".   I think most investors would love to roll the dice on this stock... just not with $28,000 cash in the bank account