The last major financing, the rights issue was done at .015 so there is no way that anyone was going finance a second round at .045, 3 times the prior financing and the run up may have caused problems with setting the price back to .015.
So here we are !
Now the issue is can they get the .015 warrants exersised and can they secure additional capital to get them up and running. If OPEC can pull off a deal then maybe oil might settle in the $ 50 range and the Co. has a chance of at least proving the technology and breaking even.
What happens after that is anyones guess.
Failing that the Co. could be in for a merger at lower prices still !