"Of course you know my position on human testing without approval from the proper agencies." That was to say, his very lax position. "I've been looking at it with as many different lenses as possible. The applications are endless. Spot application, application to the seriously ill, cosmetic application..." Now he was just teasing. He shrugged it off with: "Of course, you'll be one of the first to know. I have nothing but respect for you and your company."
"That is more of a secret. It is more of a warning that I'm looking into it rather than...something I'm ready to share." In other words, a fruitful partnership would end with more discussion of that particular project, but for now they just had their handshake and first baby steps as businessmen together.