Water It Down, It's Not Drowned All The Way YetNice to see this morning that they've done so well raising money at the expense of the current shareholders that they've decided to punish them some more. Another 7.5 million shares being issued, nice. That, along with warrants for another 7.5 million, along with the original 10 million for the first offering, plus those warrants, add up to about 35 million shares. Before all this nonsense started, they stood at about 100 million shares. So in one short month, they've diluted the company by 35%. I beg to differ with Foolanthropy on most of the points he's made in the last few weeks. Management has not stopped taking fees, they still show up on the financial statements in the most recent quarter. They did not cut down on unnecessary expense at Clayton Valley, they paid on it until they were out of money. If they had any foresight, they'd have cut it loose as soon as they knew it was not in the budget and never would be. As far as it being tough times and raising private placement, well yeah, they chose to do that rather than use their existing credit line. Good for them, not for the shareholder. More to pay their worthless salaries for a few more years. Concerning the company's present value being $0 until the FS is released, I would say we agree on one thing. I disagree that the $500,000 will bring us one step closer to that. I have seen no timeline, no list of milestones yet to be accomplished, and no cost for the necessary operations to be performed. The original partner (Shanshan) and biggest shareholder has lost interest in Rodinia, they've remained silent for years now. With no timeline indicated, (management has no clue how long the remaining work is going to take, or even what that work is apparently), I see nothing driving this to $.75 in the next 2 years. I look at other companies in the area (LAC) who are father along with less shares outstanding, and they aren't anywhere near $.75 a share. They even have a joint venture for a pilot plant in the works and there's been no move in the price Western Lithium is a junior (not brine) that has some agreements for offtake of clay and maybe a pilot plant for lithium; they did reach $.75 briefly, but couldn't hold on to it. When you issue new shares, you should have the decency to give an accounting of where it's going to be spent, how much more needs to be spent, and when the work will be finished. As it stands now, they're just raising money for general corporate purposes when they already have access to over $1 million from their credit line.