Ann: AGM Presentation, page-75

Maybe Bob, but maybe not. If you look at Graeme Newing's analysis, then there is only a small profit after tax in the third year of production. So no funds for financing their own fabrication efforts. Whereas I don't agree with all of his figures, I am expecting 2 x capital raises or dilution from shares issued to a customer for buy-in.

In fact, I'm hoping for more early funds to be acquired through whatever means as this will mean a greater ramp up of production.