The expression is "all for naught", not not.  :-)

I'm not doom and gloom Koo....anything but.  A little uncertain?  Okay...that would be fair.  I happen to think we're not being told the whole story, and I'm not alone in thinking that I know...others have commented on it many times.  I think we have some of the truth, but not the whole truth....and certainly not "nothing but the truth".   In my vocabulary the expression "lies by omission" comes into play.....

I happen to think there's a very good chance that the Citibank loan has already been taken care of....my best guess is that when it comes due that there will be an announcement that it has been extended and increased by another $50 million or thereabouts.  Sometime just before the 28th of August we'll see if a news item comes out.....but even if I'm right I don't expect them to say "back in June we negotiated....".  Instead I think it would go something more like: "The company is pleased to announce that we have negotiated and increase an extension which will come into effect on Aug 28th".

What did DM say when he dealt with the financial side at the B&B show?  The slides for that section weren't there....IR says DM dealt with that part stricly orally.  The entire presentation was oral of course, I'm sure DM wasn't just standing there and clicking the remote so that people could read the slides for the other agenda items.  But for finances it was strictly oral.....okay.  Since the company hasn't told us what DM said (lie of omission imo)....I will guess.

"On the financing side we've negotiated an extension and increase of our loan to Citibank.  The annoucement will come just prior to the 28th of August when the loan comes due.  At that point we will have enough cash to fund the completion of our phase III BETonMACE trial as well as a phase 2b trial on Chronic Kidney Disease, orphan indication Fabry Disease, and provide the funds needed for general expenses.  

We do however need sufficient financing to get us to that point and we are arranging a $10 million financing that will be made available to qualified investors here.  Two of our largest investors, Eastern and Hepalink have already signed on for $5 million which leaves $5 million available for other investors".  

That's just a guess of course....but absent full and open disclosure from the company its that or say "oh well", and I'm not one to say "oh well".  

That would explain skipping out on Paris with zero explanation and then the financing slide change in San Diego.