With negligible brand recognition and growth after 7 years, they have burned all their bridges except for the remaining stock available for the US outlets. As a result they are need to start sales virtually from scratch with an uncompleted chip which has so far cost $5-6M. Even the Gen 4 device if completed by now would not likely achieve better sales than Gen 3 with the current US outlet arrangement, the slow effect of OTC and the bud form. I expect a major announcement, good or bad for shareholders, before the cash runs out.
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Ann: March 2024 Quarterly Appendix 4C, page-163
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