Downregul8, This company does not qualify for debt financing PERIOD. It stated that it has no credit facility meaning no assets, revenue stream, inventory, etc. to borrow against. Investment bankers will make loans to a company like this that involve bonds or debentures that will have rights and precedents over share holders in addition to lots of stock, which represent dilution. The best these guys can do is cut a PPO that isn't pathetically low, like 50-60% of the market value of the stock. You give these guys too much credit. They may be good scientists but they are not good about finance, communication, or promises. I am worried about no news and the threat of more PPO's considering their new pals in the industry! I am long here but mad!
