The way I interpreted it, they are modifying a 2 million dollar loan from Merriman (touted at the time as being non-dilutive, at 25 cents per share, which was higher than the 21 cent per share which Blue Calypso was at the time of the original announcement), and essentially making it a 1 million dollar loan.
This means they are essentially saying they did not need the 2 million, and they are trying to end the intentional selling that was being done to lower the PPS in order to get new shares at a lower PPS. In short, they are hoping the lender to also benefit from the share prices to increase, not decrease...
Anyway, I do not think it suggests they are in need of money. actually, the reverse.
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