Ann: Annual General Meeting Details, page-23

I really can't see why HTG are so on the nose.
The product works and has a variety of applications, a clear 3 phase plan to market, they have been hitting their milestones, a growing client base in some big money areas with some only dipping their toes in the water so far but are positive , good sales revenue growth quarter on quarter, the new facility is up and running. Stable management team.
Will need financial support for a while yet as they move into phase 3.
Most of the negativity seems based on negative speculation.
What am I missing?