Gosh, are you really dumb or just pretending? CYCC only raised $1M now. They have the OPTION, but not the obligation to raise the rest at the time and price of their choosing. The option is prudent to have in any case. But ESPECIALLY prudent would be to have this if the company received serious buyout inquiries - because this option enhances their negotiating position as they won't be desperate to get bought out too cheap.