The rich generally run conservative on investments
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However Klump himself owns over 12 million shares so you can't say he doesn't have skin in the game. You and I may say if he buys more shares the greater the reward. But we don't know his liquidity or how he balances risk/reward.
So how best to raise capital? A new offering and massive dilution is bad news. More convertible notes will only lead to more share dumping which is already a problem. A straight loan? The interest would be usurious and a call on the loan could lead to bankruptcy.
The least risk is a TO and lowering costs until FDA approval and revenue. Which is what we are doing and would amply explain quite a few delays.