Just using cold logic, the other shoe has got to be a US or Euro manufacturing joint venture, somehow possibly even that venture going public with a raise.  This partnership/venture or whatever form it takes needs to be with a very big name with deep pockets.  Nothing else gets the tech anywhere and there is just not enough money or time for anything else.

Now for some blue sky thinking: You're right,these little raises mean absolutely nothing to the companies longevity. Could they be a favor from management to give an opportunity to the wiped out loyal shareholders, (either actually or on paper) a chance to get back in or get more at a good price (twofer) before the big reveal??