Based on the rate of progress to date, I am not too hopeful, but I am sure that the usual suspects will put a positive spin on the funding announcement irrespective of what it contains.
Just for the record, I would consider any announcement as follows:
GOOD: Buying 25% stake for $5m AND making meaningful announcement at the same time about early achievement of operational milestones. Raise the $5m in shareholder-friendly fashion (including minorities). DON'T pay excessive fees to financiers.
BAD: Buying 25% stake for $5m WITHOUT making any meaningful operational progress announcement.
UGLY: Buying 25% stake for $5m WITHOUT making any meaningful operational progress announcement AND raising additional money to feed the fat cats.
Let's see what will transpire...
Based on the rate of progress to date, I am not too hopeful, but...
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