IMO RVX is in this somewhat desperate boat due to managements almost complete failure to accomplish anything in a business sense over the past two years and change. No action on the “numerous inflection points” for the stock over the course of BoM; no action on the “short and cheap” trials that have been often talked about, no licensing deals with upfront money, no development partnerships with money for other indications and/or compounds, poor quality communication and only one quality analyst covering the stock. It is no surprise the share price has languished meaning that reasonable more traditional financing is almost impossible to achieve. 

The above being said if the IP needs to be once again encumbered I would rather see it encumbered by a third party for now. If BoM initial read out means there is good reason to carry forward, as we all think and hope will happen, then the stock may rise to a point where a non-punitive equity raise can pay out the loan. If however the trial goes longer than expected or the results show promise to the point that this is still worth continuing then I would think both Eastern and HL would be motivated to compete with each other to protect their investments and that competition could insure the best possible outcome for other shareholders. JMO