Yep. The critics were complaining that JBII could not raise $7M, because the Dec 31, 2012 8K filing indicated with only $4M was secured at that time.
Well, that they piped up too soon JBII has exceeded management's initial PIPE offering, not be a little, but by 14% (an extra 1M). Seems that JBII has no problem raising cash. IMO