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The retraining is almost irrelevant at this point- who cares?

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I care. It is the only thing holding up the start of the trails.

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All that matters is whether they can negotiate a favorable JV with some cash up front. They need cash to run the trial and whether or not they need to retrain a few people makes no difference.

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Not true. A favorable JV with some cash up front would be great. But they don't need it to run the trial.

As I've said above, the need to retrain a few makes all the difference in the world as it is preventing the trials from beginning. The same is not true of the JV.

You lead with a lot of conclusions without the facts to back them up.

The trial cost is $3M total. They have $1M now (they just raised $250K for the ESS sub - not for AMBS) and they have $725K left of the AFIRM grant.

It is not JV right now or bust. The first and most important milestone is to finish the training (which you say no one cares about).

Once training is done and the trial starts - do you think we might be in an even better position to negotiate a deal? I do.