RE: Down Round in Up MarketThe partnership was with the rail industry and its a development partnership, not a business partnership. In other words what we had was the rail industry, and UP in particular, co-operating with RailPower in order to facilitate the development of the Green Goat and now Green Kid in order to get a product which suits the needs of the industry. No orders from UP... yet ... but that doesn't mean no orders ever. Product improvement has been one of the benefits of the pilots and it now appears that RailPower is satisfied, no doubt as a result of the various pilots it has done, that it is ready to commit a chunk of money to demonstration units.
As to Westport analogy, I don't know enough about Westport to be specific and to compare and contrast it to Railpower, but in general we will have to wait and see whether these two companies share the same destiny. RailPower has not gone through the series of major dilutive financings that you suggest Wesport has gone through. If your point is that this is what you fear, well I understand that. Its my fear too but its not my expectation. RailPowers tech appears too good, the market for it exists and the timing for its products is superb (given the age of the fleets and the premium on efficiency, low cost and environmentally products).
If the right institutions participate in the financings, I will feel comfortable. $12.5 M is a fair bit of financing for something that just promises to be the beginning of a series of dilutive financings.
Anyway, I just don't see the sense of comparing apples and oranges. That is what I think you do when you throw names around like you did. How about SMY which just so happened to do a $12.5 M financing about a month ago at $1.10 and is now trading at $2.80. Not that I think that this is a legitimate comparison either.
If you are a shareholder and worried, you should get out. If your not a shareholder and don't think you should get in, then don't get in. Same with those who agree with you.