Does not seem to be worth the effort to raise only $1 mill. Not to mention the cost to raise funds etc...
They will need to raise more at some point so why not just lay the cards on the table now, let share holders know what needs to be done and why, then raise the appropriate amount to move the company forward.
Seems as though they are just to embarrassed or something. Just doesn't make sense.
KEY Price at posting:
5.5¢ Sentiment: Hold Disclosure: Held