Good to hear that the $40MM(+?) from the S-1 will function like a LOC. I don't love the idea of Joe taking much out at these levels, but it would certainly be a safety net if things get sticky.

I can see him taking enough out after the div (clearing the div may show a bump in SP?) for a couple of key initiatives (Altucell closing? Excellagen ramp up? Other Olaregen product ramps?). That might indicate a coming rise in revs that would impact SP.

In the meantime, the Coronavirus up-front payment and/or the NGIO spin hopefully happens that adds to that price momentum, and the funding becomes a self-fulfilling prophecy: cost goes down, draw more, add to SP, cost goes down, draw more, add to SP... lather, rinse, repeat...