IS - With US$8 million in trade payables and accrued interest already on July 31st and this not expected to close until January/21, rest assured that this US$10 million will be pretty much spent by the time they get it.  It will then be only 8 months before the ORI debenture is due again. 

The one positive is that the investors have accepted a short term for the warrants. Just from memory but it seems that the negative attitude stated below regarding closing was stronger than usual. 

"With a private placement such as this, there can be no assurance that the closing conditions in the stock purchase agreement will be satisfied or that the private placement will be completed."