Ann: Capital Raising Presentation, page-7

See point 2 at bottom of page, the lower opex does include the nanofiltration and processing charge payable to Authium so objectively this is very good news.

The way the raise was completed and the price achieved I think was terrible but I am actually liking this news the more I read. Would much prefer Authium be a bigger name with a much larger balance sheet but from this agreement it appears the majority of the risk for the nano process not being as efficient/cost effective as hoped falls on Authium and not GLN. Management participating in a big way for $700k is also a positive.