RE: NewsNoBS - you have basically covered the important points. But you posed it all as questions that indicate a lack of confidence in the outcome or the future. It would sound much different if presented as a positive development using the facts with authority.
Such as: "It appears that NRC - even with their limited knowledge of public markets - has entusiatically accepted shares for debt at a premium to current market price - along with 5 year wts - as a strong endorsement of GAP's potential success going forward."
That is the way I read it. There is no doubt GAP is struggling for $$$$ - I'm not sure how the second tranche of financing will go - but mgt is using every creative means possible to fund research - and they are getting support from the right parties/people.
I believe owning GAP is a strategy that will require a longer than normal "HOLD" time frame to get the anticipated returns. But the potential gains are beyong any 10 bagger - they are friggin huge. But that may be 3-5 years out.
However - I bought a lot more today and will buy again if it declines further. The right people are lining up i support of GAP and so am I.
For disclosure purposes - GAP will not exceed 10% of my portfolio. I may be a bit of a dreamer - but I ain't totally stupid.
Cheers all,
Coastal.