Wish you had clarified what "news" meant in your post...could have saved folks time by stating what does the SEC filing mean...
Yesterday's 13G/A filing by Toledo Advisors means different things to different folks...you already heard what sunspotter said, and that is his/her view...
My view, a long's view (if you can call it that) is that Toledo was indeed one of these toxic funders that was only interested in a quick 40% return of their "zero collateral" loan to the company...they had to file that they were no more a 5% holder of shares in the company...in fact, they have zero shares left...they just sold everything they owned (most likely before he Dec. 28th announcement of the IND) and clearly are not long term investors...
Now this could also be seen as good news (especially if you are on the long side of the trade)...there are many other funders that are still holding a lot of shares...for example, on Jan. 6, 2016, Typenex filed a 13G stating they owned more than 10% of the outstanding shares in the company as of that date...VIS Vires Group filed a 13G on 9/11/15 stating they had over 247 million shares which constituted more than 5% of the O/S at that time...they have not filed a 13G/A saying they have fallen below 5% of the O/S yet...
Based on my preliminary analysis, there are many others who have been holding on to their shares since they funded the company (based on funds lent and shares converted)...only those holding more than 10% of the O/S have to make a filing (or is it 5% ?)...this is good news...for one thing, I don't see any evidence of any convertibles being sold after the IND approval...whether that is because there are no buyers of the stock on the open market any more (who would buy when there is no bid price) or whether the company is indeed in the midst of arranging alternative funding to proceed with their plan of Phase I/II testing, remains to be seen...
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