All very good points.  IMO, the overriding influences here are that 1) dilution as we have known it has ended, and 2) the BOD is covering operating costs out of their own pockets, albeit in the form of loans.  

Point two must be taken very seriously as it is not something sustainable without very strong prospects for a major event coming soon.  I feel very strongly about this and just can't seem to shout it loudly enough.

VP