Ann: LKE secures $1.9m Option Underwriting Agreement, page-44

I'm sure that any management of a small company such as LKE, exploring for a product that is going through an uncertainty phase, would be delighted to get an underwriting for $1.9 million for a once off fee of 6% i.e. $114,000, than having to borrow it at a repayable going rate of 15% p.a. for, say, 3 years i.e. $855,000.
And to make it much more attractive, the underwriters are a group of current shareholders as joint underwriters, including their own Chairman. That gives them both certainty and comfort in having the knowledge of who the resulting shareholders will be and most likely long term holders and not opportunistic short term "sophisticated investors" that would have put the uncertainty of a potentially ugly overhang over the SP.
We should all hope that the underwriting offer proceeds to full fruition, regardless of the SP.