>In the meantime PHUN's only way to fund day to day expenses is to sell a few FO shares that they originally received on the Buckskin deal, but even then they are severely restricted.

That's for sure, 1/2 of the proceeds have to go straight back to Falcon to pay off the loan.

"All remaining Pledge Shares shall be unpledged and may be sold by Borrower, in which case the proceeds of any such sale shall be divided equally (50/50) between Borrower and Lender until the earlier of being fully applied or until all accrued and unpaid interest and principal under the Loan is fully paid."