Ok I can see that if the terms had not already been detailed in writing. Such as $2.5M upfront, $17.5M upon thresholds, Bindai to pay everything else. If that had been generic terms like there will be upfront payment and milestone payments, then you need to finalize that and bind it. But we are not lawyers and that is how they stay in business by making it more difficult and take longer.
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Disclaimer: Of course, all of this is my opinion and you should not make any investment decisions based on my opinion. I have not received any non-public information.