Ann: Rincon Lithium Project - Progress Update, page-64

-Demonstrated inability to produce

-Demonstrated lack of any progress to report (best attempt is two facts which confirm zero progress)

-Cashflow disastrous, CR imminent

-Demonstrated deterioration of any previous funding/partnership deal if it actually existed.

-They failed to gain a deal in far better conditions and are desperately trying to arrange one in a much worse set of conditions

-Permit may or may not be granted, if it is, it will be harmful to shareholder value in the short term, making it a strange time to want to be a holder.

-Company is an utter train wreck!

I hope this helps! For a detailed account/supporting evidence of any of these points feel free to refer to the detailed analysis already provided.