As unpleasant as it may be, I do think the timing of the S-3 will have to wait until the financers of the convertible shares have been able to create a sufficient short position to protect their investment. The announcement of the S-3 registration probably will put pressure on the share price, allowing them to cover their short position at a lower price. When announcements of new OEMs and Airlines is made, and the share price rises, they will be able to cash in on a higher price with the warrants. It is a no-lose situation for the convertible investors, and that is why they invested 1.2 million dollars. When E-Digital becomes profitible, it will be nice that this type of financing will no longer be necessary.