RE: This is ridiculous you 2Bringing things back to reality here, re: the private placement, I think that it can be looked at in four ways:
1. NAG had no advanced knowledge of the results of the testing and the private placement was 'friends and family'. In this case I am not worried to worried since the PP could have been a last attempt to let people get in on the action with favourable-to-market terms before NAG takes off.
2. NAG had no advanced knowledge of the results of the testing and the private placement was not 'friends and family'. In this case, I am slightly more concerned, since if they didn't have knowledge, but were confident that results are good, then they would have waited for results to be announced and completed the PP at the higher stock price. However, given that there was uncertainty, conducting a small PP at these price levels was a bit of an insurance policy incase results don't pan out.
3. NAG had advanced knowledge of the results of the testing and the private placement was 'friends and family'. In this case I am also concerned because this would indicate the company does not operate in accordance with good ethical business practices.
4. NAG had advanced knowledge of the results of the testing and the private placement was not 'friends and family'. In this case, I am worried because they would have been better off waiting for results to come out and completing the PP at a higher stock price.