Titan Pharmaceuticals Inc (TTNP)

[Serenity3]

I may have misstated the default piece as I only went off the covenants stated in the press release (unless someone has seen the actual loan agreement).. that covenant may be required in order to obtain the other tranche of 3 mil.. you're right they must be confident or desperate.. the thing is according to the press release this loan is guaranteed by ALL their assets, except intellectual property.. that means ALL the money they currently have in the bank ...this lender is taking NO chances... any whiff of default & they're toast... cannot believe that in 14 months since approval they have moved the needle forward not an inch... braeburn is doing what they need to do to recoup apple tree's capital & generate a return, clearly they have other irons in the fire as well as probuphine... what has TTNP management accomplished in that time? what has TTNP Board done to protect shareholder interests in that time?