bill, what is it that you don't understand? SFMI's LOC does not meet any of the criteria for "toxic financing". Sure, the financier can short, a third party can short, anybody can short. But they do not have guaranteed access to discounted shares to cover the short, which is what makes some types of financing toxic. SFMI's LOC does not meet any of the criteria that would make it toxic. Period. End of story. Drop it- you're just making yourself look foolish.