I'm super bummed that this isn't a LIFE financing.  As was pointed out, you have to be an accredited investor, which comes with it requirements I can't meet.  It probably is because of the requirement to have enough money to last 12 months, and the amount they raised in the US was too pathetic, when combined with what they could raise in Canada to meet this.  

I'm also shocked by how many posters here continue to be apologists for management.  They destroyed all of our accounts.  We could have had a chance to recoup some of it by being allowed to participate in the PP, but they screwed that up too.  I'm bitter.  Everyone here should be too.

On the bright side, the near term risk of going broke is gone.  I could see the price going back into the $2 to low $3 range.  Maybe the next raise they do in the Spring/Summer will be a LIFE financing, but probably not.  And for anyone that thinks maybe there is another source of funding they could get before they need to do that, when has this company ever underpromised and over delivered?  The only hope for that would be selling their share of SPX. But from the position of weakness they are in, they wouldn't get what it's worth.