Maybe I'm just ignorant of how these things work, but it seems to me that if BOCX doesn't come up with the $3mil in equity (or get an extension), the "penalty" will consist of being slapped with liens on all the company's assets (including their patents) until the loan is satisfied, which, in this case, would probably mean a bankruptcy liquidation!
Sounds like a pretty good way for a hedge fund (or big pharma) comapany to pick up some lucrative technology on the cheap, doesn't it?
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