flsunchaser I know you directed this post towards Bly but I would like to comment: You said "that if the SEC doesn't accept the Registration Statement, it voids the agreement" I agree there should not be any worry of the warrants because the registration of the SB-2 is not valid. I am guessing the Schedule 13D will have to stay valid. I wonder if the SB-2 is not valid will Cornell flood the market with their 30 million shares? I guess not since Cornell shares are restricted and they will have to keep these shares for awile in order to make a profit on the deal.