I was told last week they were about half way there in terms of commitments before speaking to brokers/reps. At a point, there was word it was over subscribed (interest) but I never got that from the company. I wouldn't be surprised if they got requests for 10 million shares and only cash for 4 million. It will take a while to collect paperwork and cheques from everyone but it's realistic 60% has been confirmed already. It's likely we wait a few more weeks to get confirmation on the PP before the stock bounces again - hopefully everyone takes care of their paperwork and things close soon.
Additional note: meeting with brokers Wednesday went well and another meeting is scheduled for tomorrow (friday) regarding the 3 million in debt financing. There has been progress made there from what I'm told. I am told a lot though so hopefully that comes to fruition too. It won't happen over night but the ducks seem to be lining up.