I don't really think they are going to be able to raise that much money through the subsidiaries and whatever they raise it certainly won't be enough to complete any trials. But rather I think their goal is to partner one or two of the assets.

They have been dead in the water for the past 2-1/2 years, so it has been too difficult to partner anything since the toxics would have been involved in any negotiations. Plus they had no leverage- any partner would see they were on the verge of BK and would have wanted to steal the asset. I think there is a real possibility that the JV partner they had for ESS may come back to the table once the toxics are gone next week. I would bet the toxics were the reason that deal never went through. They probably can't get very much money up front, but a partner would probably pay for the development costs and trials.