I THINK you got this right.....the 40 m s1 financing was obviously not for gnbt on the otc, it was supposed to happen 4 gnbt concurrently with an up list to nasdaq.....so a delay is inevitable for the s1 because of the cmf fiasco.....now am not saying that it could not still happen b4 the end of the year and b4 the jan. dividend, wouldn't that be great....to have the approval of the s1 financing and the up-list in the same week?.....we could only pray for a miracle like that.....