RE:dON'T DILUteMy first source of pessimism is coming from basic technical indicators; they were originally favorable but now they seem neutral at best. Might as well do the offering while we're at $0.14.
My next source of pessimism comes from reviewing our EU application again in its entirety, and while QNC makes an amazing case for the patent's originality even I can't help but say the patents (ours and Valentino's) look pretty damn similar. Combine this with the EPO's stubborn nature and you've got the situation we're in currently. It is still worth noting that Valentino's patent is riddled with inaccuracies and we should eventually get the patent, but due to the EPO's difficultness I think the only way we get the patent is by going to the panel (which means another half of a year or so). Just to be clear: our tech is original, but unfortunately our wording matches up well with Valentino's. When you delve beyond the surface, then a skilled person is able to see the difference. Thus, the issue is an unlucky draw of patent examiner (they are obviously not a "skilled person") and the only solution to this issue is to go to the panel.
Anyway, if QNC waits to do the PP after the EU response, there are two possible scenarios:
One, we get the full patent, SP flies to crazy levels, volume is in the millions, and we can do the PP at a much higher price/much lower dilution. Deals get signed. Everybody wins (except the shorts).
Two, we get some of the patent or none of it, file a continuation (if partial grant), and then go to a panel debate at the EPO. In this scenario, the SP will undoubtedly go down as this news would mean at least another half a year or so of waiting. Investors' patience can only last so long for a venture, unfortunately. It will be extremely difficult to raise funds in this scenario, and the dilution would be woeful.
While the upside of waiting for the response could be massive, the downside could be terrible. Doing the PP right now would be the safest option. It would yield the desired funds at moderate to little dilution, and there's no risks involved. Just my opinion.