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Message: Third Eye Loan

The timing of this news is being questioned a lot. A lot of us had felt that there would be another financing because of the Third Eye Loan. That was alleviated some by the extension. With this release, it now causes some more thought. Maybe, RVX was holding out as long as they could to get the best price they could. To some degree, that was accomplished as this is a higher price than we would have gotten a month ago. Maybe the three month extension is all that could be negotiated so the loan really has to be paid off by August 4th. I have been assuming that we would receive top line data somewhere from mid-July to mid-August. That does not leave enough time post-top line to raise the capital to pay the loan. They have to do it before then. Maybe the extension was just designed to give a little time to raise the capital while Third Eye essentially wants their money at top line data release.

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