I would have to think that's the only good news in the 3B. Yes...

I would have to think that's the only good news in the 3B. Yes it's a horrible amount of dilution and the market response hasn't been kind, but if they're issuing shares then that means they've taken the money raised in the CR. Maybe the likes of Goldbear would know more that I, but I suspect you can't accept CR funds raised for a particular purpose if that purpose is no more.

So, based on that bit of mental gymnastics I'd say the merger cum acquisition is a goer (although the debt terms may get worse with the current share price...).