Respectfully I disagree, sure they are likely going to be 12...

Respectfully I disagree, sure they are likely going to be 12 months + covid delays longer than the original 2 year engagement with IMEC, however saying 2022, 2023, 2025 is just sensationalism - they have made an extraordinarily large cap raise and explicitly stated that this is enough cash to see them through to the very end of 2021, so unless they are raising money again June 2021, I see no justification to speculate any further.

These extended timelines and claims of new iterations coming from nowhere is really just more sensationalism, iterations are always going to be on-going for the entire product life, so lets just put that ridiculous claim to the side. Yes, they are over their original timeline, but I would rather they finish in 2021 with a proper product than trying to rush it to the finish line in 2019 to appease hypercritical ASX investors.

"But what we know for sure is that none in the board, except DM, has put a single dollar of his own money in this venture." - this comment is just plain wrong, they have they put their own money in at multiple stages and in JDs case, a considerable amount. You try and flip being paid shares in lieu of cash as a negative thing, which is also nonsense.

Their current metrics are better than anything they released from R&D stage, which was not produced on production equipment, those metrics are available, we know their current cells are bettering those metrics, I am not sure why you insist on further details when by their own admission the MB chip is what matters for statistically significant metrics. Ignoring a plain as day point so you can zero in on something else doesn't make sense to me.

You also talk about the NDA like they are bound, 4DS have the NDA with IMEC, not the other way around, 4DS are able to release any information they want, they are the owners of the IP and the NDA and the information. As I stated above, by their own admission, metrics of the MB chip are the only ones that are statistically significant. Dribbling non-significant metrics to 1000s of investors that hold tiny parcels serves to achieve what?

We have more than enough information to make educated decisions on our investment, if you think you don't have enough information and it makes you feel uncomfortable at the risk/reward proposition you are contending with, well, perhaps that is your educated decision made for you!