You raise some excellent points, Teddy, and I share all of those...

You raise some excellent points, Teddy, and I share all of those concerns.

The big question which even the most optimistic of holders must be struggling to grapple at the moment is how is a company with a market cap of around $40 million with massive enterprise value, no history of any profit, no demonstration of proof of their biggest prior claims and very little cash going to raise $80 million for an extremely speculative project they are not providing much at all in the way of detail about, and in a market sector they have no expertise in? I don't have the figure handy, but isn't $80 million about 10-20 times the company's book value? If they can pull that off I'll give them credit for being very, very good salesmen!

At a standard CR discount they would need to dilute current shares hugely, but with that much dilution and that huge a capital raising, a huge discount and thus mammoth dilution would be required.

I look forward to seeing how they try to raise that much money, and if they can manage it.