"Further evidence of Alliacense's health is the recently posted job openings. Even if they are just replacing folks that left, businesses typically don't solicit new hired help if there are funding issues looming."

So how do you square that with the fact that funding issues do loom? Or do you think that TPL has rights to our $1,000,000 and that is why they are not paying it back?

And further, why did we reserve for the entire amount? Is it because a default triggers a complete writedown to zero, or because we internally value the loan at zero (and for what reason(s))?