The Warrants....
Ok well this financing news is great and the money issue solved for now... Yes, I would have preferred to see some monetization of something - IPF or 4050 - but I guess on the "bright side" the bulk of these warrants only come into effect IF PLI draws down on the money... ALSO - again if I am reading this right - if PLI draws down the first $10 Mil, the first tranche of warrants vest which means another $8.5Mil in the PLI coffer from the warrant exercise 5million @ $1.70... So there's that too. Perhaps PLI won't need that much of this loan if you take that into account.