chicagoest - I'll give this a try, others may have to correct me.

RVX will never retain an interest in ZEN-3694. That is owned by Zenith Epigenetics Ltd which is owned by Zenith Capital Corp. Resverlogix is a separate company which has a drug called RVX-208 plus 4 or 6 other drugs that we don't hear much about. Zenith Capital Corp retained a sliding scale royalty on any sales of any drugs that got to market from any drugs developed from the IP that originated from Resverlogix prior to any spin outs.

Trial dollars, your correct, information is very sparse. DM was saying BoM2 would be about $80M. My guess is higher but let's use 80M for this exercise. Long COVID is estimated at around $10M which came from a presentation about a year and a half ago. Now the debt, 12M plus interest to Hepalink, Eversana is also owed some, maybe $16M, plus some other debentures issued in the last 2 years. Adding in about 1M per quarter for opp costs, which I think is low and subtract whatever Hepalink's share of the BoM2 trial cost would be, which I'm guessing at $20M and I come up with an estimate of $120 million over a 3 year trial time.

Where will the money come from. In the last couple of slides of the Zenith AGM presentation DM referred to the royalties that Zenith Capital Corp would be entitled to. On the bottom left of the slide it shows ZCC currently being entitled to a 6% to 12% sliding scale royalty and then on the bottom right of the same slide his comment and slide content says ZCC would receive either 5% to 8% or 6% to 8%, sorry I don't have the time to review the presentation again this evening. My point here is that the high end of the royalty went from 12% to 8%. This brings me to the conclusion that ZCC is looking to do some kind of a royalty sale deal. If that conclusion is correct it would include sales of "all" of ZEL and RVX's products.

Now it makes a lot more sense that the trials for RVX-208 must happen and not have all of the money from any deal be dividended out to shareholders. Anyone providing capital would absolutely want to reduce their risk by having the BoM2 and Long COVID trials completed. 

Along the lines of reducing risk for the funder, it would not surprise me to see one or two new board members added to or replace existing board members of both companies.

If your reading this and see some holes in my thoughts please comment.

tada