The Q1 deal was $2M for 8M shares. This new dea

The Q1 deal was $2M for 8M shares.

This new deal had two components:

1) $2M for 5.3M shares
2) A contingent guarantee to buy $5M at various prices in exchange for 2.7M shares + 8M@$0.38 warrants

Apply algebra using your statement and it becomes:

1) $2M for 5.3M shares + 2.7M shares (8M shares)
2) A contingent guarantee to buy $5M at various prices in exchange for 8M@$0.38 warrants

Assuming we succeed and go to $10/share, the 8M warrants are essentially 8M close-to-free shares. That's a hefty price to contingently guarantee $5M in equity sales (we have meet milestones AND print/sell shares to get that $5M too) for three months.

Any way you want to slice it these are vastly inferior terms to any previous dealings with Aspire. Also, most here expected dilution to slow for 2018 as the trials winded down. Instead, in two transactions with Aspire, we have done more than our average annual share sales for the past few years (close to double if they exercise those warrants).