There are small cap and microcap funds looking.
As you rightly point out, there are several hurdles preventing some from taking positions, but at the same time, there is already some small institutional money in play.
Only time will tell if the business' performance is good enough to allow insto money to meaningfully accumulate.
Some of the hurdles are CF+ (or a clear path to), profitability (or a clear path to), Market Cap, and liquidity.
Ann: AR9 Awarded $528k Contract with BAE Systems Maritime Aus, page-46
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