RE:Equity raise or LoCIn my opinion, until the FDA approves the BLA, I cannot conceive of a rational and informed investor wanting to acquire an interest in Liminal. This company is earning meager revenues compared to extremely large expenses, with no prospects for growth in the absence of FDA approval. And if one looks at the history of the BLA file, an investor would realize the hesitations and disappointed promises that have been part of this file from the Laurin era to the present. In my opinion, I cannot see a share issue that is likely to be successful, even at a ridiculously low price. So, in reality, Liminal has no choice but to resort to its LOC until the FDA approves the BLA. Otherwise, the only other option left is the one we experienced last year, which was a highly dilutive share issue for the benefit of shareholders we all know very well.