Dr Suds options to me could go a couple of ways. Firstly he needs to come up with 40 million dollars (which is not easy to do in anyone's realms). Options like these are not transferable usually so funding that yourself or through some sort of deal struck amongst friends/colleagues is not that easy. If he converts I think it will be last minute. If he decides not to convert or partially convert, I am not concerned in the slightest. Yes it is 40 million that we could have in funding but with Roth on board it seems almost irrelevant. They have a history of big raises so I am not concerned in the slightest about funding. Right now, I am feeling as de-risked as we ever have been. If I were Sud I would watching the landscape over the next few weeks before deciding to do anything.
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