"I see three possibilities: i) FoB deal with a relatively large up-front payment; ii) financing; or iii) buyout/merger."
i) would be great. iii) would be nice if over $1.5 per share. As for ii) I doubt that GTCB would do a financing currently at these pitiful prices. They do not need it that bad and they can always go to LFB for an additional "loan" if need be. The last financing was done at $0.87 I believe (although it had warrants associated with it that made the actual price much lower effectively). I do not anticipate GTCB making another financing at this range or below anymore and I expect that they will wait until we cross $1 decisively before effecting another financing...