This may be stating the obvious, but I see this offering as a way for insiders to buy very low, with an added bonus of warrants. The NR states EE will take up to 50% of the offering, the rest by insiders and existing shareholders.

If they were to issue options at these levels, shareholders would be outraged. By creating a "need" for a PP, shareholders are merely upset.

Reminder: At the AGM Elmer stated we had $2.1 M cash and a burn rate of $45,000 per month. Somehow, using his math, he stated we would require more funds in 2-3 months. My math suggests that $2.1M with a burn rate of $45,000 should last the better part of 46 months.

How did that song go? ...... "Nice work if you can get it, and you can get it if you try".

Hopefully we will see that several insiders participate in the offering, simply for the suggestion that there is still hope for the rest of us....