My guess.........is that we are close to a JV announcement based on the fact that the recent PP was only offered to insiders and friends ....and was done for a mere $1 million dollars. Certainly this is not enough cash to take them into phase 2. This indicates they only wanted to raise enough to tie them over until they firm up a deal with a major pharmaceutical to proceed to phase 2.
A partnership with a major should provide an influx of sufficient $$$ to advance all their indications. This should take us to the next level and hopefully get us off this rotten venture exchange and move us to a major exchange where this belongs. Then we can finally get a respectful valuation. I beileve we are close ( within 3 months) and our patience should finally pay off.
Cheers!