RE: CDO Wins; PP SpinCall me naive however I believe the PP is nothing more than management ensuring they have enough cash on hand to ensure the company stays solvent(I/we have no idea about debt covenants). I'm sure Norbert and gang know their are several potential contracts that need some time before they are announced.
Sure they could have given us shareholders a chance at grabbing some cheap shares. But in the end they must believe $800k is what is needed to keep the company moving forward and it was cheap and easy for them to enter into a bought placement. It would certainly have cost more $$ to do the deal in a different manner and this also shows management has faith in the company.
At this point in the game its all about saving every penny they can.
John