Narmac I say probably mainly for 2 reasons; 1) we don’t know what the security arrangement is (golfyeti, security documentation and “deliverables” can be anything from the delivery of the warrants to documentation of IP encumberance, as we’ve seen once before. Unless you’ve seen something more than what’s in the NR you can’t say for sure what is in the security documentation). 2) the loan expires in 12 months. What if the IP is encumbered and the SSA results in the requirement of the trial extending beyond 12 months?  If this was unequivocally a great deal I think the stock would have opened with a bang not a zero trade open. I’ll stick with probably until I see what the details are.