I can't see management wanting to dilute themselves any more than necessary prior to selling. Wouldn't be surprised to see $20+ profit per speaker (i.e. 200% margin) for the first batch of say 2m speakers. That, on top of a (say) ~$40m cap raise should see them through to company sale. They'd probably go for a small loan if for whatever reason they needed extra cash for the second batch.
Ann: AGM Presentation, page-77
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