I have yet to read the whole document yet, but the statements regarding raising capital through equity deals and that significant dilution could occur strongly suggest that more capital raises will occur. The bigger question is at what stock price will they occur. The statements regarding dilution seem to be directed at longs. It is my opinion that if you want to hold the stock and wait for a reasonable stock price to sell, than you will likely be rewarded at some point in the next five years. On the other hand if you want to watch this stock as closely as this forum does, evaluating your investment daily, you will need to protect yourself with stop loss price points and try to average down whenever possible. That as well can be risky as one can miss out on an unexpected big hit.