That's probably $65 million US$

Look at their history on trials

$65 = C$84.5 trial cost

           C$36.   1 million/month opp cost

          C$120.5 to get to the end of the trial. OH wait...have they ever completed a trial on time and on budget...NO.

A company with this record would likely see some kind of discount in a raise because of their history. Guessing at a 20% discount from your $1/share raise. Now look at your dilution.

$120.5 divided by .80 = 150,625,000 plus a half warrant of 75,312,500 to give you an additional 225,937,500 shares. That's pretty close to 100% dilution.

Please God don't let them think they can do this on their own.

All IMO, dyodd 

tada