I admit, that I don't have examples. However, I do know that I myself have found plenty of alternatives to get myself out of the financial hole. It is all a matter of incentives. If the incentives are strong enough, management of these companies will act and become creative. However, they are spoiled and don't react. On top of that, I suspect that the Directors benefit directly from easy solutions in the circles of known brokers. They (BOD) probably attribute many of the private placement investors.

I, for one, would go to Asia to look for financing. Have they tried anything over there? I bet, they didn't. Too much work.