I just did that today and worked several vendors against each other to get the best deal I could. I need to listen to the call again because I am not sure Socius is the only fish of that color here either. Also Epic has warrants too they can exercise.

So 5m-10m for Novel, or less and incluse conversion of warrants. See I think Epic probably doesn't wants Socius in this deal either.

Think about this scenario. They get 7m for Novel. 3.3m pays off their entire debt. ~300k covers their debt two quarters until profitability, ~3.3m goes for the studies.

Profitable company with 11 commercial apporved drug products or more, with zero debt, and a massive R&D program in final phases of drug approval for massive products. This company is not messing around.