Great news Illumination - thx for the update. If in fact management has decided to finance through debt as opposed to a very dilutive equity placement - I applaud this decision whole heartedly.
Everyone has to relax and realize that there are a lot of moving parts... QSL has not been sitting on their hands doing nothing... every month they have clearly reported their activities. Every month they have had significant news/milestones. Quite frankly, I've never been involved with a junior that has been more transparent and forthcoming with news and activities. They are under no obligation to report everything they do... only that which is of material significance. I would expect they will report on this financing decision in the next monthly report.
One of the reasons the US UL has not been done is you have to do it for each technology. Each time is 150-200K. If you've been reading their news... you'd realize that they just announced yet another significant break-through with ESS... If they started the UL in the fall... these new panels would not be available to the US until they did another UL for their latest panels (another $150-200K). Do you think any US company would purchase old panels when new ones with 20-30% improvement are sitting in the wings?? There are pluses/minuses for sure... but management decided to wait until this latest version of their panels were perfected and then go after the UL. I would do the same.
Finally, they clearly were not comfortable with the massive dilution ALL shareholders would have to bear for a final round of financing where clearly the vulture capitalists would be HUGE beneficiaries. They did this for the shareholders... management could always issue more options to match the dilution so their personal wealth was not jeopardized. An infuriating technique routinely used by many juniors on the venture exchange. This is a VERY unselfish, ethically sound move by management and again... I applaud them.
Two thumbs up!
Upanddown... you need to think twice before you blast out poorly thought out emotional posts. Adding in personal bigotry further erodes your credibility and you should be ashamed of yourself for stooping to that level without even having the common decency of talking to management yourself. I truly hope your due diligence is more than reading ads and posts on stockhouse. If not… it may be time to rethink that strategy and buy some more predictable blue chip stocks. Do you get upset with your lottery vendor when he sells you another losing winning ticket?