You're forgetting one thingA licensing deal could come any time. The company is actively looking for a partner. There were meetings at Biopartnering and I am sure there will be more meetings at AACR in April. There are big pharmaceutical companies examining Pharmagap now. They are reviewing their data and test results. Yes, the company is continuing with its testing programs to prove up the drug further but in the mean time, an offer could come at any time. I believe that offer will be worth many multiples of the current share price.