Ann: Preliminary Final Report, page-339

Here are my thoughts.

Sellers are exhausted at these prices but will come back when the price is back in the double digit range.

There is only one person funding it because it’s nearly halved since the last CR and no one wants to go near it thanks to its track record of late.

Giving yourself 12% rate and cheap options is absolutely irrelevant and means nothing in terms of the business. What it tells me is this investor is pricing this as a very risky investment and hence would like some capital and huge blue sky potential if it succeeds.

The reason being is because it’s not a fraud, it’s just a very difficult tech with IMO years away until commercialisation.

I can’t believe people are looking at this funding update as a positive. Absolute madness. Whilst the Demo being “imminent”.