Isn't it only a bad deal if the Bond is called and CytoDyn does not cover the Bond payment to the surety before the indemnitor has to cover? In this case, isn't it only the first Warrant grant? But, maybe that was too many Warrants even in that case. Still if exercised, the first Warrant grant will bring $4.5M cash into the company. Nothing is ever simple in CytoDynLand.