Are we?"The solution for finished garment application, as used...

Are we?

"The solution for finished garment application, as used at Pine Belt, which is under review and is expected to encounter further delays"

So they are shifting focus to applying FR to rolled goods - but does this mean another 2 years of experimenting?

Yes they mention "We anticipate having further updates on the commercialisation pathway in the next few months."
But what does this mean? - that they have signed with a rolled goods manufacturer and begun development work.

I've pretty much discounted the military and even ICL.
Hopefully they can get some increase from BioCool and then TMCS and FR sock over the next 12 months, get operating cashflow positive and then full cashflow positive (financing etc) and then make a small profit.

Still it's positive that both larger holders have been buying, and I think applying FR to rolled goods will prove easier and hopefully they may have done some work already in this area with ICL perhaps on the workwear side and gained some insights.