AGM, page-179

yep, i get what youre saying re dilution but in the scheme of things, for example, IMU had 2.4BB on reg with only tiny large shareholder base and theyve just completed a very large cr for trial completion and new trials to follow..so ya know size and dilution are relative things .....not all those things are absolute accounting things at all stages of the game ....if a product was an earner and suddenly the registry blew out with no new streams then yeah Graham/Buffett rules apply

so now look at LCT's registry .....positive outcomes completely change the future scope and size of registry is relative to that outlook and the companies ability to prove it has all the necessary pieces to expand to market at pace to attract further investment from major pharma.....commercialisation from a major partner a whole different level and we wont need to worry about liquidity as a major will back it up all the way ...