What about that? If this round of dilution covers the $15MM for MIG, what do we do with the drawn down credit facility? Did VELT get a waiver on the covenant breach? Don't they need a credit line?
No credit line needed because of the equity offering.
They got the waiver. That was in the 20-F. Also, MIG payment said that the payment was required to be paid in mid-April. We now know that they were working that deal probably in the past 2 to 4 weeks.