I'm not sure how much they think they are going to get but right now I feel $1m @ 2.5c would be a big result. The extension might be the indication that they aren't getting much in.
They should have set out to raise a chunk @ low 2's + option sweetener. I'm sure they could have found an underwriter for that sort of deal.
But yeah going solely to SH @ a straight 2.5c without any runs on the board is a tough ask.
Ann: Investor Presentation, page-8
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