Re: HDYN 10K (prior offerings)
Nobody is going to give a conventional loan to an exploration company that has no revenue producing assets and no ability to repay the loan if this is a dry hole. The risk is not worth the reward. Someone might do a convertible debenture that could be converted to equity to participate in the upside of a discovery. But I really don't like that unless the conversion rate is fixed. Otherwise it becomes death spiral financing.
I see private or public offers of equity along with farmouts with carries as being the most likely and best solution.