Aurora Labs - Master Investor 2017 - Rising Stars, page-253

Alright GTC.

Please (as requested in last post) link to just ONE talking about an MOU (I'd particularly like to see one from WP but form A3D would be fine.

When u realise the YUGE difference between an MOU and a term sheet I'll elaborate further on what this means if you like. It's a good thing, sure, but not a substantial in the plus column for quite sometime. (End of teh term sheet activity at the earliest).

In answer to your question about "rose colored glasses", WP don't need to be particularly optimistic to agree to the NON-BINDING TERM SHEET; because it's a gift horse. No risk for WP.

Don't get my wrong, it IS A POSITIVE, but as implied by your post it doesn't require any remarkable level of optimism for WP. Unlike an investor like yourself who must be very bullish to commit a substantial percentage of their free funds to invest they won't have committed any remotely sgnificant (IF ANY AT ALL) amounts of their FCF.

In a word NO I don't think they have "rose coloured glasses" because they don't need them for this deal. It's a gimme for them.

(I'll elaborate further on this if you like, outlining what a term sheet is generally about and why the above is the case.)

P.S. I am curious as to why A3D didn't announce the terms. ??? It wold be unusual for the agreement to carry any CIC information, only that the conditions might be costly to A3D. Otherwise I don't know why they didn't elaborate.

"...there is no assurance that any legally binding agreement will be entered into or that any matter contemplated by the Term Sheet will be completed. "

I can't see any reason for the term sheet not be enterred into other than an MFP or LFP prototype not being ready for it. WHich would be unlikely, IMHO.