To clarify my earlier post, I understand that the

To clarify my earlier post, I understand that the third party issuing a valuation of above 1$00 million for Elto is new, however we all already knew that Elto was very valuable. Jason Napadano thru out some very big numbers 3 years ago and even said he thought it could be worth $350 million if successful in the trials.

I don't think the Accounts Payable will be settled in a tender exchange agreement even though I know that was mentioned in one of the presentations. In order for that to happen, there would need to be a securities offering to these people, because unlike the note holders, they don't currently own any shares. That could get messy and I don't think it will happen. I think they will settle most of the accounts for 10-20 cents on the dollar with a cash payment plan- a certain amount up front and payments over a period of time. The most important ones like Lonza may be paid in one lump sum first. They will be assigned to each subsidiary that they are connected to and paid by that subsidiary.

The amount that Elto will take to do the phase 2b trial is $15 million according to the presentation that Gerald did. And then the plan would be to partner with big pharma after that and have the partner do the phase 3 and take to FDA approval.

I see several possible scenarios in the near term. They might raise 1-2 million in a private round for Elto and then do a JV/sale with one of the other assets to raise the rest of the $5 million they need. Or they could raise the full $5 million for Elto. But again they only need about $15 million for Elto for the trial, so I think its likely that a portion of the $5 million will come from another source and the money they raise in Elto will only be used to clean up the books for Elto Pharma and do the IPO later.