Agree with the notion that this is signaling a green light from the SEC. Getting to this milestone was first before actually spending the money on finishing the financials. One could say that getting the other impediments out of the way was in fact "working on the financials" in the sense that failure to get over them would obviate the necessity of ever issuing the financials anyway.
Disagree with the notion that the interim financing would only come if the financier thought there was great commercial potential. The potential need only be share price volitility. This can happen on the basis of promises followed by disappointments.
All that is really needed is a quixotic CEO willing to earnestly go after the impossible and fail. Oh, and investors who believe, of course. Nothing more by way of successful commerce is actually needed. Maybe nobody would ever take these kinds of risks if actual commercial success was the only potential for payback. Trouble is commercial success becomes secondary to working the hedge, which is a lot easier anyway.
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