My understanding is they don't have to announce an

My understanding is they don't have to announce any Phase 1 trial ... they only have to announce Phase 1 results. I could be wrong ... Regardless, if they haven't started Phase 1 trials we should be concerned ... because they stated they had funding and according to their own timeline they put forth in the original China contract ... they should be within Phase 1 trial if not done with them given the time they receive Bintai money.