la jolla, page-6

What that is saying is that if the SP is 1c, HTX have the ability to instead of issuing shares at a 15% discount to 1c (ie 0.85c) they can repay the $$ value back to La Jolla.

But in reality, I cant imagine that HTX will be in a position to repay the $$ for quite a while (unless they sign some massive upfront agreement for US distribution)