All along by knowing that the end game is for Pala to get KAS's 75% of the tin project, we have been able to predict the next step(s) that KAS will take.
The SPP failed. Only 25 shareholders took a total of $130K of shares. It would have cost more to do the SPP than it raised. (sad and surprising to see only 25 shareholders}
So the next step as the money runs out (again) will be a rights issue. Pala, African Lion and some other odd shareholders will be the only people to participate. The rest of the shareholders will be diluted (again)
Alternatively, Pala may issue more convertible notes.
Too early now to predict how Pala will play the convertible notes. These notes are secured by primarily the tin deposit. Needless to say, Pala is in control of KAS and has a plan to get the tin deposit.
The only positive I can think of for ordinary shareholders is the price of tin. It would need to explode and there are no signs of that happening.