Yes, Sandman, you would delay any dilutive financing to do all that and to find and implement a better solution. However, you can delay only so much, and the longer you delay, the more you run out of time and the higher the risk that your efforts won't come to fruition at all.
So you have to draw a line somewhere. And if you reach it with a better solution in place, you have to swallow the pill and raise capital. I'm not a capital markets guy, but I wouldn't be surprised at all if the less time you've got left, the worse your dilutive financing conditions would be, i.e., catastrophic instead of just awful. ;-)