Business Develop - Ramping up., page-40

I would vote no also.   PGI looks like it has enough cash and equity to go forward without diluting shareholders.  

The current board already has one strike, so I think diluting shareholders would only help it to get a second one.   I haven't done the math, but as BJ's large existing holdings would be also be diluted by whatever shares were offered to the other lenders, I'm not sure he would gain enough for it to be worth the potential trouble.