3DM Worldwide - Superstock??

Does anyone know the precise terms of the mortgages referred to above? If the debts are not paid the usual position presumeably would be that the IP would be sold to repay the amount outstanding rather than the mortgagee getting the IP itself.
If this is the case the IP might be worth more to the mortgagees than anyone else, but they would still have to buy it on the open market and any money above the value of the loan reurned to the company.
If the terms are that on default the IP passes to the mortgagees and the value is far greater than the loan outstanding the the shareholders and/or the liquidator may have a case against the directors for entering to the deal in the first place as it would not be very likely to have been in the best interests of the company.
If the above is correct then there is little point in the directors entering into the deals just to get the IP fo free and who the morgagees are and who is beneficially entitled to them is not relevant to the current issue of who is selling and why.
Raising the issue so forcefully without knowing the mortgage terms could be more derramping by shorters or just show how p*****d off the posters are becoming with no news.

In any event my guess is that there is between 500k and 1m left in the kitty, and the question only arises on default. Does anyone have any hard evidence of how much cash is left and the rate of burn so we can actually assess the position rationally?