frog,
The one safety valve is its $400,000 per month. It's not a matter of their having put up $8 mil and start protecting a bad investment--unless they had ulterior motives, they wouldn't have put it up in the first place--but $400,000 per month is a far cry from $8 mil, you gotta admit.
If DNAP performs they way I think they will, the entire matter which admits concern will be irrelevant, and the lender will be happy they have any position at all.
As far as dilution is concerned, that old saw 1% of something is better than 100% of nothing is as true today as the first day it was coined.
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