Ann: La Jolla funding update , page-42

Agree they WANT more. Or they wouldn't have extended the rights issue and they wouldn't be fighting LJ. But they do have $1mil from the CR. They don't NEED money. Not in the short term.

So it's a trade off between what THEY think is best for INT. That may not align with what WE think is best.

Simon has said consolidation is neither a YES or a NO. The update is clear that the lack of bids is the main stumbling block. I honestly don't think INT have 100% decided whether to fight it or consolidate. But I think they now have the numbers required to force it through.

I have no firm opinion either way, although I lean towards consolidation as a means to free up liquidity. And acquire more at a discount.