Was there a tranche 4 meeting? None that I was invited to so I don’t think there was one for retail investors. Do they need tranche 4? I  don't know but the debenture was intended to  match the loan facility and I  believe they have big plans which requires substantial  funds beyond the sale price of  DL to  enable/accelerate the production of optical engines.

As far as I know there has been no pricing set for tranche 4 and I think it will end up again being more insiders who have knowledge of the buyer details since at this point only insiders are allowed to be shared that information. It really is a catch 22.

But I do think they may begin to allow options to become exercised as a means of gaining any additional finances required. I think much of this will be explained very soon as in next week. And maybe some of the warrants will become attractive to exercise once details are disclosed but one can never count on that as a source of money to meet specific financial targets.

Good luck all and have a great weekend. We have our annual family pool party on the weekend and I have been working hard to get the place ready for the onslaught.