It is not as much funding arb as it is paying off note holders. He should have done it at the time we signed chinese deal. Now it is going to be way more expensive/dilutive. As a shareholder i am worried because Fung does not seem to give a dam about us and may cut a deal favorable to the bondholders screwing share holders. But if he could get an agreement to push the debt off we would not need much to fund the ARB. I think bondholders realize if they dont do something therr looking at pennies on the dollor compared to full repayment plus additional interest. Once a deal with bondholders is done are stock will move up. ARB has value well above futre debt.