This line is great:

Pursuant to the terms of the Subscription Agreement, James Briscoe, the CEO of the Company agreed not to sell or otherwise dispose of his shares of common stock of the Company owned by him or which he has the right to acquire for a period of two years from the date of the Subscription Agreement, unless sold in the open market for over $0.90.

I'm shocked, and pleased, that they were able to do this deal. Really surprising to me. These are not great terms, but it is fantastic that they raised any money at all in this environment.