Actually, the point i was making is that PMCB would have to pay any loan off with stock since they have no revenues, and will not have any revenues for years.Of course this wouldn't matter if there is a buyout, and i say IF, then it would be a good idea.They can issue Pfd. stock, but then again if the PFd. is converted, still common is issued. Also if Pfd. is issued, they would have to show the income statement on a fully diluted basis , and also accrue dividends. The Pfd. would have to have these features for them to sell them.So either way there will be dilution.If the trial shows outstanding results, a buyout will solve everything.
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