That's right. Delfin revised the original bridge loan to include 150K total under the same terms as the original loan. Delfin evidently will continue to subsidize TGLO until such time as relevant decisions are made.
Merger & acquisition are both referred to several times in the 10Q filing, as is the repeated reminder that time is of the essence: "we do not believe that cash on hand and cash flow generated internally by us will be adequate to fund our limited overhead and other cash requirements beyond a short period of time."
The only things I can imagine an empty shell with an unpaid CEO/CFO spending all that money on - 1/3 already used up! - are expenses associated with making a decision regarding TGLO's future in Delfin's FID. At the current burn rate, it seems as though that "short period of time" will expire sometime this summer. JMHO
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