Phorm issues shares to raise cash

The much-disliked company Phorm, who develop probably illegal systems for probing web traffic using deep packet inspection with a view to selling on internet users' browsing habits, have been hitting rocky times lately.  With no commercial partners currently working with them in the UK, Phorm have moved further afield and explored markets in Braxil and South Korea.  In both locations, their plans appear to have hit the buffers (according to postings at the No DPI forums).  Faced with a bit of a crisis, they appear to be trying to raise a spot of cash, accroding to The Register (Phorm issues shares to raise cash • The Register). What's interesting there is the named markets currently being explored are Brazil and China.  Now there's a market the might succeed.  In the meantime, I wonder who would buy the projected shares in light of the woes that Phorm have been suffering of late?