Excactly my thinking.
I don't understand why the NR is getting this much negativ feedback...
1) The biggest risk (run out of cash) is more or less gone
2) Concerning to SP, 20% interest in the end is much better than dilution.
3) 20% is ridiculous - Frank lends ~2.5m and is on risk that the BCSC delays lifting of the CTO much longer than planned and BGM runs out of money anyway.
4) A clear timeframe was stated for the first time. I guess Frank added 1 month to what he thinks will be the completion date - just to be safe in case of unscheduled delays. So perhaps we get a very merry christmas just the same.