Hong is desperate. He are desperate for time. Even though the terms of the bank deal are unfavorable, he only needs to hold out for a couple of months. Why? Tech companies are going to be negotiating their server space contracts and with the rapid appreciation of land value, more efficient servers means less space. You aren't going to make a quick buck off this, but if you are willing to bet on innovative technology, you might be a happy fellow relatively soonish.
As of today, it is only a $6 million loan, they took care of their SVB payback obligations, which happened to be a pressing need. The other $4 million comes into play on completion of IP monetization... The other $5 million isn't even necessary at this point.
We have the USPTO favoring NLST over SMOD, we have DDR4 potential, we have authorization on HP, we have potential infringing penalties, we can payback the loan in a year's time if we have the money.