Ann: Brickworks Collaboration Progresses to Development Stage, page-40

My thoughts are with the long term investors and I am crossing my fingers for management to try and secure non-dilutive funding. I have put a reasonable amount of my own DD (technology, management talent and business plan) on this company and have decided to hold off investing until management can utilise one of the many tailwinds. Currently, I believe a large round of dilution to be the most probable move in the short term to build long term value for SHs (timing?). I will wait for a clear financial pathway to at least give an indication that the portfolio has a chance to succeed instead of the hypothetical trajectories relying solely on PF coming through, which could take years.