Pesa, Ryman,I think you have a reasonably balanced view.I know I...

Pesa, Ryman,

I think you have a reasonably balanced view.

I know I am the optiMST, but I think the Pt 2 was what everyone was asking for, but their impatience made them expect it would read "US MARINES ORDERS 1 MILLION 3GLs". C'mon, nothing was never going to happen like that. We got what we should have. And a whole 13 days or whatever later than expected. Many have complained about years of waiting and deadlines not met. And LWC is a reasonable excuse and weeks, not years later than (not really) promised.

In this doc, the way I read it, is a clear focus on a couple of products that are seen as likely to hit some quick runs and get some cash in the very dry tin. The company needs some cash, still.

It strikes me that the very same people who want firestorm, HE round cert et al now are the same people who didn't want to support the Rights Issue with more cash "after bad". These same individuals and the one's who are critical of more and more dilution. I must be missing something, because it appears that they think there is a cash magic pudding somewhere. The cash has to be rationed...and the document reads as such. IMO, MST's problem over the years stemmed from engineers over-engineering a great idea and leaving it too late to have some cash left over to sell it into a long sales cycle.

My read on the situation is that the cash needed is only being supplied by a handful of individuals and those who criticise also aren't part of that. Just to be sure, I over-subscribed and said so in previous posts.

Look, MST needs the money to take us forward or we'll "die on the vine". Here's how I see the choices;

1) Borrow money - no bank will do this. Only BOD & MALCO seem to be the ones to have been prepared to stump us some loan cash and we'd probably all be bust if they hadn't. Now they want to be repaid, interest free, on the same basis as the RI, that those naysayers didn't take up. Please explain why not. And BOD's association with TOD or MOD shouldn't figure into the economics. If you say 'no' then please put the money into the company so that we can pay them back in cash.

2) Issue more shares to Dutchess. This doesn't seem to me like any long term solution as it's bits and pieces only and they'll just sell into the market anyway, holding our price down.

3) Get commitment from existing shareholders to stump up more cash. Tried. Average result. If it wasn't for a handful of existing shareholders, this wouldn't have been the "success" that it was. It did propel one shareholder to #1 ahead of MOD, who appeared to take none from his entitlement. Now, we have the opportunity for those guys to stump up some more well needed capital.

4) Get some big investor in to "save" the company and help MST move into a bigger game. My Lord, that would create the most heinous screams of "This will be another Fiasco" or "We're getting diluted to hell".

Please someone show me a fifth way.