Thanks for the reply. I was under the impression that last fall they got new financing, which would probably mean that prior loans would be bundled into the new package. I'm only guessing. Also, I think I read that the note could be converted into shares (pps - 40% or 50 cents, whichever would be the lowest) and the warrants were at 50 cents. I don't think they will be exercising warrants at that price. Maybe someone else has a better feel of what is the total amount of the note due. Also, what is the name again of Evan's venture firm? TIA