The process for Avant to up-list takes several months; I am not sure AMBS convertible note holders are counting on that happening and can wait that long. If AMBS is going to succeed, it would have to be based on what they do on their own to secure a JV or clean financing.

As I have stated before, the convertible note holders have been remarkably patient with the Amarantus management and are giving them the time to come up with a deal.