Ann: Offtake LOI with Formosa and Strategic Investment, page-10

This stock definitely hurts for me. Am/was very over committed at the 9c and 10c mark .
From my point of view you are kind of ALL correct , except the placement discount. I have been investing for many years indeed and have unfortunately seen this happen more than once. Sees ridiculous but bear in mind the following..
LER IS DESPERATE for CASH No lender in their right mind would give them the money they need to get up again.
There is NO appetite from the current large shareholders to give them any more money at anywhere near $0.03 per share.
We will unfortunately end up with over 2 Billion shares on issue. That is a truck load and more of Rosin, Terpene sales (and now woodchip sales) to get anywhere near a reasonable p/e multiple.
The positives are; LER probably won't go bankrupt in the short term (we all lose everything we put in originally)
Formosa will take and pay for the by-product of woodchips (some income stream)
If they go into production for Formosa they are still able to sell the extracted chemicals...
Formosa will place 2 directors on the Board. Hopefully these guys will be smarter than what we have experienced so far.
Hopefully we will have a big brother watching and guiding the company along.
I remember very well the announcement in February 2021 that the plant was 98% complete. When the storm happened late 2021 they were "just about to go into production" ...that is a very long 2% completion rate. I believe it is this core dissapointment period that made the big backers turn their back. Once that happens it is very, very hard to build credibility.
Let us all hope that Yasuhara or someone else is still interested in the Rosin and Terpenes.