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Even if there were super funds whose investment criteria included investing in a non proven, no income generating new technology, what price could CNM issue them shares at now?

10-15c max. So raising even $100mill would add about 1 bill extra shares to the register. We might as well sell now.

If i'm right, this Heads of Agreement is to help satisfy the reqirements of the fed grant to get the $50mill - $100mill grant. Without a heads of agreement, we'd probably have to raise the cash now from super funds to give the funding committee the peace of mind that we could get the money/support. So i dont think it's an option.

i think raising even $100mill on the market now would help us lose a lot more than 30% of current and future earnings. And without the money or a heads of agreement with a big investor we wont get the fed grant. Without the fed grant we wont get the project up or we certainly will dilute the shares into oblivion. So i dont think a share issue is the way to go if we can avoid it until the SP is much higher.

Even with Origin/other company's financial help, and the grant, they'll still need to issue more shares as you suggest. But with a big company on side providing money, and with the grant, we'll be raising much less money, at a much higher SP and with much less dilution than we would if we started now.

(Having said that i dont know squat so my ramblings are just that.)