Ann: Investor Presentation, page-56

There have been zero profitable tech companies spun off miners or reverse listed in ASX history.

Small Cap investors lose their shirts because they massively overrate the the significance of MOUs, partnerships, trial, agreements etc. In the vast majority of cases they lead nowhere.

Colorado and Georgia are nothing but small trials based on politics. Every other DOT in the world appears to have shown zero interest in the product. [DOT approvals are just paperwork and a small processing fee. There is no further testing required or even any intention to use the product.]

Godrej are trialling Edencrete because big companies like to test new products on the market. The probability that a big company will actually use a new product is negligible - often far less than 1%. [Every other Edencrete trial by a big business has gone nowhere.]