Here is my thinking currently:

1) $18 + million received from prior issue (@$1.50) the entire issue is majorly under water ; some big campers will be very unhappy with this.This may be a pressure tactic to force some offsetting cheap issue to these holders;

2)At this rate , the 2009 warrants will never be exercised;

3)Management will be under some pressure to raise more $ at some point; there will not be a crowd for the next issue unless :either sp gets back up to $ 1.50; or a smaller issue at a lessor price is done early perhaps in part as a "benny" to the $1.50 guys.

We should hope that if an issue or F/T is done at these levels , that Agoracom's PP facility is used to include us. It looks like some kind of pp setup to me right now. THAT MIGHT BE A GOOD THING IF ALL ELSE IS HEALTHY. More $ is going to be needed at some point and it will not come from folks swamped at $1.50.