"is on track to take three times as long and certainly spend more than twice the prospectus funding to get over the line - a trusim of early stage investing."
3 times as long? What they originally aimed for was commercialising the NEPSYS weld into the underwater ship repair industry. What Lange has done since he has come onboard is taken what was once 1 skill/service(even 1 man show - being Clive) and made NEPSYS into a company that is only using NEPSYS as an advantage should it be required. A total solution.
I think Clive Langley's sell out was due to sour grapes, that his baby(NEPSYS) was no longer the main focus. The real goal of publicly listing the NEPSYS technology was to create a business so that he could profit from his technology. However, Lange has now taken that and is turning Neptune Marine into a profitable (massive) business, remember when we had to wait months/years for a ship repair worth a few $100k at best.
Utter @#$@...
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