Dennis while totally agreeing that the prospectus was a fiasco of a sort I do not agree with your opinion.
It had nothing to with controlling share volume or price. I doubt these were even seriously considered.

What it was about was getting some additional cash into the company coffers Because the share price several days before went up and that raised the average price over 20? days average ( was that the period used?). Plainly they saw sp rise so they jumped on it. As some implied here, company could have waited and gotten a higher price and thus less dilution. But how could the management know that.

Share price rose on the expectation that on Feb.25 we might get some favourable news. That did not happen so the slump afterwards is not all due to the prospectus price but also due to another let down news wise.

Had the company tabled the prospectus earlier or later the price could have been 32 or maybe even 30 cents. We can say that they should have waited until April or later but what assurance could the company have that the sp would rise by then.

Yes the cards are begining to fall in place ( hence sp volume) but we do not know the timing and the company can not gamble much.

I am not trying to defend the company ( recall me a few years back), just to let every one know that there is another way of looking at the situation that the company is in.
Ed.