Ann: Activity update , page-36

Intellectual property? How much is it worth? They know how to get massive mortalities. Who is going to pay for that? If they'd made a reliable recipe for doing this, sure, it might be worth something, but as it is, it's really not worth anything at all. There has literally been no observable, measurable, demonstrable progress for years now, it just looks like they're fumbling around knowing no more than when they started. Who is going to pay for that? What benefit is it giving them? What reason do we have to think anything is going to be different next season? The only difference is that now the YTK are sick.

The excuse for the cash burn being that they have a huge facility to run? What the? Huh? No one missed the reason they're burning cash like it's going out of fashion and they're overloaded with it. Of course they have a mass of infrastructure running... tell me how that's a good thing. It doesn't matter whether they're blowing it on beer and hookers or running a big facility, the fact is, whatever they're spending it on, once they run out, they can't keep spending it. If that means they can't buy beer and hookers that's a shame. As it is, it means they won't be able to run that aquaculture thing.

At current cash burn, even assuming the YTK income doesn't change, how long before the cash on hand runs out?

I'm not sure the next capital raising will be possible at any price. A lot of people are probably sitting around thinking "I paid a heap for this but there's no point selling them for nothing, I'll just leave them in the bottom drawer" but they're not going to put more money in. What crazy new person is going to come in throwing a heap more money at dead fish? Anyone like that has already been milked and now serves as a warning to others.