chart, page-162

Well someone was going to be right from the upper or downer brigade with arguments too and fro until there was a winner.

The Pivacs I struggle to feel sorry for. They have destroyed their own wealth and it's unfortunate that ordinary holders have also got stuck in the fire.

They have put their own self interest first and have kicked a massive own goal. If they had of been honest about the progress of the HX and its capabilities. Had they been conciliatory about the delays and not made bs announcements and admitted the Class A milestone had not been reached and not given themselves shares in a dodgy way then I suspect the SP would be a lot stronger and of course they would not have diluted their own holdings.

The Pivacs are charlatans who have been found out and have scared a lot of investment away at a time when investors are looking for any excuse to flee spec stocks.

The next CR will be at bargain basement levels, possibly 5c or under and will severely dilute their holdings, 25% is entirely likely. Again, I have no sympathy for them but I feel bad for the ordinary retail punter.

Is a $40MC fair for FBR? Well video evidence of the DST and HX shows they both need a lot of refinement. Commercialisation is a long way off for either. The company has serious cash burn and FIL and CAT are not impressed with management. CAT are out and if FIL decide the same... The KSA MOU cannot possibly be met and the only star on the horizon is Weinerberger. The value that is left are ideas that have a long way to go before proof of concept.