From my understanding, GG has already given G&F $150K, and will IMMEDIATELY fund an additional $1.35M (for an up-front total of $1.5M with NO dilution involved) upon SEC approval of the deal. If it hasn't already happened, it could be only weeks/days away. The entire deal is for $16.5M.
GZFX can begin drawing on the rest of the money when they want, but at that point the dillution will begin. Golden Gate can't own more than 9.9% of the OS at any given time.
GG gets shares for about an 18% discount, but will never pay more than .20 per share. That tells me that GG would LOVE for PPS to move north of 24 cents. Then they could REALLY make some good money.