Running discussion on SP, page-5041

Regardless of how many technical milestones the company has achieved and the substantial cash in the bank, it appears that the market is (relatively quickly) losing interest in this stock. The peaks are each becoming successively lower and we are hovering close to the capital raise price despite all the amazing news that has been released since then.

I think the market is frustrated by early comments strongly alluding to contract/s being closed by 1H 2023 (yes I know that management cannot control the process) and I worry that this slow drift down will give the shorters even more gunpowder.

I think that (some) long term holders will take money off the table for capital preservation (potentially with the intention to invest back in once revenue starts flowing).

I also think that the longer it travels without a commercial/revenue announcement the SP will continue to slide and unfortunately create a lower base for when a solid commercial announcement is made.

I still have strong concerns that the board does not have appropriate business/legal/investment banking/consulting NEDs. Yes we have an all-start team of engineers and scientists who have done a sensational job creating the tech, we just need the right people on the board who can help sell it.

I have been in this stock since early days and am starting to question the investment. I have recently sold a portion of my holding to meet my risk management profile.

Just my take.