It is common knowledge to long term followers of MSB that the...

It is common knowledge to long term followers of MSB that the company has a history of obfuscation. Simple things that can be clarified for the benefit of all are either not mentioned or explained in a fuzzy manner which then led into endless debate about its actual meaning as people have different interpretations.

I acknowledge that in the original announcement yesterday that there was no mention of warrants or convertible notes and that it clearly says Non-Dilutive.

However, "Non-Dilutive" can be interpreted as non-dilutive FOR NOW.

Sometimes it's important to use common sense when analysing something that sounds too good to be true.

Instead of believing that Hercules is so mesmerised by MSB's achievements that it doesn't ask for securities for the loan that it extends to MSB, ask this:

- Instead of buying MSB shares on the market, how many of you are willing to extend loan to MSB for 9.45% interests without any chance of participating in MSB's future success?

I doubt that there will be any taker, even amongst the most die-hard MSB believers.

Why?

Because, it's simply stupid to do that!

If it's stupid for an ordinary person like us to lend MSB without any security, then it is crazy/idiotic for Hercules to loan $35m to MSB without any strings attached.