That is my hunch as well. I just think that he misjudged Abbott's desire to expediate their test through the approval process. I just don't see how he can raise enough cash without one of three things happening:
(1) a private placement @ .60 cents (it wouldn't take too much stock to keep him afloat for a couple of extra months). But where does this leave him at year end-it will probably take well over a year to see any royalty payments if the test goes to market in the next nine months (IMO overly optimistic).
2) an upfront fee from a third licence
(3) excersise of options (Smithline, JP Turner, and all other warrant holders)
I still think it will be a combination of #1 and #3. I will bet anybody a lunch at Denny's that I am right.
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