James Marsh - MD Interviews, page-284

We are but for the purposes of balance and not blatant up-ramping, we are a good way away from actual cold hard dollars coming in through the GW project product suite (not including nanotech being the complete black swan).

First product on ship and sold, cash received is still 15 months away, then it's phase 1 for a year, then phase 2 needs to be paid for and scaled etc etc, until then, it's a loss making business. (inb4 people try to compare to PLS here, I know what you are thinking).

Not making any inference as to what the share price will be along the ride, merely that all this work is done so that the money can start pouring in. When it does, that's when the real re-rating happens, on top of whatever the SP is along the developmental stage. People like to think they have the patience/life circumstance for the 2-3 year hold from here but many do not.

HC is good in a way because you can see those that do along the journey.

All the best