Without this deal ... the ability for OBJ to keep operating will be sorely tested.
This is utter rubbish I'm afraid. OBJs operating deficit in last quarter minus R&D rebate was just $200K (as was the previous quarter). They have $1.5mill in the bank. They can easily raise more cash just like they have in the past. There is far more potential risk in NS not achieving the results they hope for with a $20mill loan hanging over their head. If the bank were to call it back due to poor performance, it would require their asset to be sold and them to find another $8mill. How easy would that be after they've raised $40mill to help pay for this acquisition. All the risk is with NS.
Is this PNO 2.0? Hope not but it remains to be seen.
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