Ann: VEEM 2021 Full Year Results Update, page-11

I’ve spoken to mark not long ago who reiterated that they don’t need capital (take that with a pinch of salt I suppose). At the same time if the right opportunity came along for inorganic growth then a high share price gives them added power/flex.

I believe, but don’t know obviously, that the ipo was due to taking some money off the table as the risk increased with spend on the gyros, and to also allow access to capital markets if needed. Doesn’t appear that they do need money for organic growth.

off topic but I’ve been really enjoying these hypohysteric videos esp as a Veem shareholder given their relevance to the Hunter and Collins programs. also some fascinating videos on the png conflicts in WW2