Sorry but there is not twice as much debt as cash. It is the other way around. NPS's debt is not a loan. They borrowed against a royalty stream. Thus the debt is not debt in the typical sense. And once the money is paid back, all of the "debt" noted on the balance sheet disappears and the revenue from the royalty goes to NPS's bottom line. This is why I expect them to be profitable in 2014 (GATTEX sales will help as well). By 2015, they will have huge revenues from royalties and two new drugs taking hold. Looking for a $3 billion dollar market cap then, or $35/share.