Stop gap deal. This is a stop gap to get us through to Urocidin deals and AH sale. Who exactly is going to lend 30mm to a company run by Graeme Mcrea? Giseppe and Knuckles?? Who knows, we might even sell a bit of Immunocidin and Sin Susto while we are waiting around for AH to sell.
I'm sure we all wish they could have done this with Urocidin partnerships instead, but it is what it is. At least they didn't dilute us to the tune of 25mm shares at .35 like some thought, or let RCP auction off our assets starting June 21st. We are not going bankrupt anytime soon. We should have a at least 8 months to fund operations. If we don't have a new BOD, AH deal or any Uro partnerships by then..... we have bigger issues. Interested to see how the market reacts. I for one will sleep a bit better tonight, knowing the executioner has taken off his mask.... for now. GL
beech
beech