Thanks. I'd ask my brother the attorney in NY state, but he'd probably bill me for looking at it!

8% is not a bad loan rate and, really going into amateur conjecture here, it could very well be that the lender could have actually been intrigued by the warrant-like option in the loan; namely that they could possiby make 1000% on their loan if LBSR S/P went up. And I would think that Mr. Gross, in the process of negotiating the loan, would have shown Powerup the potential for LBSR.