That is where funding comes in. He obviously had access or usage of a lab for the patent, and also remember the doctor of TCEL is based in New Zealand. To pay for lab usage in the US, and replicate the experimental process for trials it is going to be a considerable amount of money. The initial wave was funded by institutional investors, and some that held preferred notes for conversion. Now that things are taking longer than anticipated, some note holders converted shares for their own purposes. Lots of investors (angel investors, hedge funds, etc.) are looking for a 12-36 month ROI these days, considering the current economic situation. There is a great deal of people and companies holding on to as much cash as possible, or reinvesting in other faster moving companies, in anticipation of interest rates rising soon here in the US. With how low rates have been for so long we are looking at pushing into an inflationary trap since rates cannot go lower. So this has persuaded many groups to pull cash not working for them at this moment into cashing out and reinvesting elsewhere as well. Diversification has its benefits when attempting to stay ahead of the inflationary curve.
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