I agree with you. I have the same recollection that there was some mention of a smaller initial program if there were less funds- or- as funds came in- but then that seemed to disappear. And I also agree that the use of private placement funds for routine costs instead of drilling is definitely a disincentive for people to invest. And I have to also agree with RS about the need for possibly more flexibility in deal making. Not knowing details, though, it is sheer speculation as to whether this has been an impediment. In any case- a deal needs to be made and/or funds obtained.