Total raised was a little disappointing, or more likely that my expectations were too high in thinking that warrant holders wanted more exposure and the deal made sense for them. At least they raised enough for a few months and hopefully enough to get some cash from one of the other opportunities.

I still believe that many of the outstanding warrants will eventually be converted, but we need to get a catalysts or two completed to make the valuation for converting make sense. I don't see them getting anywhere near $30-40M without a catalysts or two and getting the share price higher. My hope is that if they do another TO that these value-adding events have occurred and they do the offering at a higher price.....or better yet, just let the current warrant terms stand and don't do another TO.