For some reason, Esposito and then Dodd neglected this path, didn't bother going after the "small" funding that had carried the company through all the years. They left creditors, including lawyers and accountants, hanging in limbo.
Maybe they didn't want to "nickle and dime" the company through the FDA process. Bottom line, they were on the path to a large funding commitment and Ed pulled out the rug from them.
The creditors would have gotten paid. Ed and his cohorts just didn't want the dilution to their shares, they want it all....
