I think when JB started the PP offer, he was very optimistic and probably genuinely thought that, by the time drilling fees were due, LBSR would have filled and closed the PP. As I said, EC had listed four PPs that were all significantly larger. Those PP participants may have known that drilling fees might need to be paid. Back to "on the bright side"...maybe in the long run, it was better to pay those fees this way rather than selling millions of shares.