The DFA Discussion, page-6

Easy. They were tipping in high risk capital and risk for reward reigns. OPT was on its knees and had nothing to negotiate with, so it had to give away the farm. A Charge over the assets and undertakings of the company is everything, lock stock and barrel.

Worse if a mediocre successful trial was achieved, holders may have been very angry when they realised how much the Board gave away. 4 times loan size. 7% of future sales and jump clauses in the event of a sale or takeover.

The time to discover this stuff is before, not after.