I have been thinking, though not privileged to read past La Jolla funding agreements, there is something in this agreement with WSGI which seems unusually important.
La Jolla can't get any of its initial loan of $500k converted into shares and that at only 25K initially, for 91 days from the date of funding Feb 2.
Those 91 days seem dear to C and E for a reason of note.
I suspect they feel quite strongly that whatever is going on regarding all the ground work effort they have made to date is expected to execute to some satisfactory conclusion to avoid allowing that debt to convert in any significant way.
I think the market is beginning to understand that as well.
It's also curious that they can't add more money for 91 days either...I think that's what it says in the agreement.
JMO
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Before dawn there is darkness. Then the sun rises on a new day.
