You obviously have your own opinion, but I will do
Post# of 36537
https://www.sec.gov/Archives/edgar/data/10597...form8k.htm
As they had moved forward without funding thru the identification if the peptides without funding, $940k seemed a low hurdle to continue to the step that would have gone a long way to proof of concept that might unlock hundreds of millions in funding and garnered a lot of attention.