It makes perfect sense Koo...

Basically we need:

1) To satisfy the $68.8 million loan in some fashion....replacement, extension, curtain #3.

2) Raise enough money to further execute the biz plan...finish BETonMACE, fund BETonRENAL, Fabry disease etc.

I recall that when BDZ proposed the idea that there may be a financing deal in the wings, one that is contingent on the company getting a thumbs up on the FA....he said wasn't going to go down the rabbit hole that leads to the contingencies in the event that BETonMACE does not pass the FA.

In the MDA it talks of another expected secondary type offering...while at the same time saying it might not happen.  Which is like me saying I expect the Jays to make the playoffs, but it might not happen.  

There's a spider web of possibilities out there given the lack of information we have....but I do believe the best case scenario involves a positive FA coming out before the clock strikes midnight on the Citibank loan.  If zero hour hits  with no FA, then imo we're going to be looking at another stop gap financing deal similar to the B&B brokered deal and some form of an extension on the loan.

Hopefully we get the FA soon and its full steam ahead...