Swing,

I'm a little slow but I think this is what you're saying ...MannKind is using a lot of shares to motivate employees that could be used to finance operations therefore they must have another plan in mind that doesn't require selling shares.

If this is the case I think it makes perfect sense because at this low share price they would need as many shares as possible just to get them part of the way to approval.To be this generous with the shares could just mean that Al or someone else is kicking in some more money or that the bond deal will go through this time.

We can only hope and wait, and wait, and wait.