We owed us$1.4m of which $600k was paid in cash and balance...

We owed us$1.4m of which $600k was paid in cash and balance ($800k) as royalty. I think thats right. I dont think you understand the value of royalties. They are the most expensive form of finance, particularly when they are issued prior to production. This is a terrible terrible outcome which has resulted from poor cash management. This debt should have been paid out after the last raise, not at the death knock.