I personally own IP .... IP is valuable ... IP is an asset .....
Yes, it is an asset, but the value of that asset is ultimately a function only to the extent that it is able to generate Revenues, Profits and Cash Flows.
Either way it is a non-tangible asset and therefore not used as loan collateral.
Feel free to show me a single example of a debt arrangement where the security that is accepted by the lender is Intellectual Capital.
Businesses take out loans to progress, expand etc etc etc ... can we just move on from the loan, it's parameters, secured / unsecured etc etc etc .... It is a done deal and IMO a 'smart' done deal .... 
With the information that has been provided, I'm not sure how one can possibly come to the conclusion whether it is a deal which is either smart, dumb, or somewhere in between.
As for your appeal of "
can we just move on from the loan...":
While for some people it might be a case of "Whoopeee, we've got access to some money", the investment processes of the overwhelming majority of institutional investors is somewhat more exacting than that. They tend to ask the sort of questions and have the sort of debate which has ensured over the past 36 hours following this announcement.
Because, unlike you, they would have both a desire and a need to understand a financing arrangement such as this, including its "parameters, secured/unsecured etc etc etc. "
They like to be appropriately informed before they invest. That's what they are paid to do. Otherwise, they are professionally negligent.
So, if you want more institutional investors to be attracted to MSB, (which I assume you do) what you really should be doing is not saying, "Oh, this is sooo boring; let's talk about something else", what you should be doing instead is e-mailing your company seeking clarity on some of the unknown parameters, as discussed on this forum, and exhorting them to make more fulsome disclosure of relevant information in the future.
It is in your interests, as well as the interests of you fellow shareholders.
The market dislikes transparency.
And, unfortunately, MSB announcements tend to often lack institutional-grade transparency, resulting in ambiguity and confusion.
