You might think why would anyone want to invest say a million dollars in Elto Pharma in a private placement today, when they could just buy stock in AMBS for an even bigger discount instead. But you can't really buy a million dollars in stock very easily- that's 20 million shares and Gerald isn't going dilute the stock that much by issuing that many shares at this point. But if you do a private placement in Elto Pharma instead, you get a likely very attractive discount to an IPO later and you are investing in a company that will be on a National exchange instead of an OTC Pink stock. So I think it's easy to understand how this could be an attractive investment for a larger investor.