Ann: Quarterly Operations Review, page-6

There has been a so called "conflict of interest" from the beginning - something that was disclosed from the beginning. Hence, no conflict IMHO.
CLS, prior to the 20c post-consolidation raise & the investment by BP, sole funded this company for almost a decade.
Blind Freddy can see that the company is going to have to do a CR, however I doubt that CLS will allow that to happen on the cheap given that he is the controlling shareholder and will not want to lose control unless it is for a reason that would be for the good of all shareholders. His extending a $1m line of credit is proof positive of this.
Don't forget, the last time the company raised money, it was at a 500% premium to the prevailing market price. And although I'm not of the belief that lightning will strike twice in that respect, I'd be shocked to see a CR at anywhere near current prices. It is for this reason that I think we're going to start seeing more frequent reporting.
The fact is that since BP's resignation, the new team has had a chance to draw a line in the sand, create a business plan and begin to execute. It is blatantly apparent that this is what is currently transpiring.
I particularly like this new addition to the FRG portfolio: "A system for routine sanitising of residential and institutional air conditioning coils to prevent build-up of microbes, dust and allergens".
This is  more than likely AS starting to put his fingerprints on the technology and addresses what is a potentially HUGE market.
Unfortunately I have had some recent experience with this issue, as has a friend.
Depending on pricing and efficacy, this could be a world beater.
The jury is out on the water application as the company has flip-flopped on it for too long and too many times.
I'd like to think the new management team has a better handle on it.
What seems to be happening is that the company is finally taking its future into its own hands.
I have no doubt that they're still engaging with OEMs, however they are simultaneously moving to market on their own steam.
I wouldn't be surprised to see an OEM agreement just as PO3 goes to market as that seems to be the way life works - either a feast or a famine.
I think, or at least want to think, that with key appointments of capable management and a new business plan in place, shareholders will reap the rewards as this new plan is executed.