If we have cash why the need to raise money?????

As for concerns regarding Patriot’s financial condition, we have cash, no debt, a public company presence with access to public equity funds and the ability to transition into a viable operating company going forward. We are making good progress in identifying, assessing and positioning future M&A transactions as I will outline in more detail in my shareholder letter later this month

Is this another attempt to sell cheap stock to you kno who???