RE:RE:New Private Placement of Warrants to Special InvestorsA key piece of information here is that the reduced offering fully subscribed by one strategic investor. Depending on who that investor is, I would take their money at 40 cents/share... if they are bringing some intangible value to the table or tangible value down the road in the form of low-cost capital, complementary manufacturing and distribution assets, customers, other business/product opportunities etc.
Sometimes you have to look for the strategic implications of such financings.