Blue Biofuels Inc (BIOF)

[NYKnuckleballer]

Yep, that's the $3M to $12M (if I remember correctly) that they need to raise to have equity or "skin in the game" to qualify for the up-to-$148M loan.

$12M / $160M = 7.5%. I wonder if the sliding scale (required equity position) remains the same if they are only able or want to raise, say, $3M?