I understand the rationale. I would argue that PNP is the strong believer in PTK. As a Lender to PNP, should a waiver be issued by PNP (the Borrower), Lender's would have little choice but to accept this extension. The alternative would be to disapprove the waiver, rendering it very difficult for PNP to raise additional funds should it need to. As a financial institution, PNP has little to offer as collateral.

In my previous life, I spent many years as a banker issuing debt to a various entities resembling PNP, albeit much more successful at their craft.

At this point, whether PNP likes it or not, they are in bed with PTK. For better or worse.

Just my two cents,

Sandman