What a crock!

So, let's see if I understand this right.

Last fall, at around $1.25, we were told by management that they didn't max-out on the private placement because "...we don't feel we need all of the money".

Six months later, management then decides they "need the money" and dilute us by a factor of 50% more?

I'm beginning to think that management's definition of "long-term" planning means the next 24 hours. Anything past that simply doesn't register.