RE:A concern? This would be the nail in the coffin for me. I would sell everything and call it a day.
Management says they have a strong hand then goes and dilutes at $2... no thanks.
If they cant make it to a poit where they can announce P1 results after the ONO, refinancing the debt, and having two revenue generating products then there is a HUGE problem.
Even if they had a strong hand this would indicate to me they dont know what they are doing. Even the right tool in the wrong hands can cause more problems than it fixes.