Ann: Ceasing to be a substantial holder, page-26

Agreed, for the likes of SaltX shareholders, I think it is underestimated the long expensive road from proof of concept to industry acceptance. A road that Calix, through LEILAC, is a long way down.

Although, if I was trying to bring the share price down that is the tactic I would be using right now (not some irrelevant accounting metrics). I would also attack the immaturity of the carbon storage industry, as this is a potential issue for the attractiveness of carbon capture technology. For the former, given SaltX track record, I don't think they will be able to stick to one thing long enough to win over those hard nosed cement manufacturers. If they do, Calix will be the incumbent and much more difficult to unseat, compared the difficulty for Calix to win market share. To the latter, it seems the new LEILAC company has already identified this and is moving downstream, so may be a win should Calix get a bigger chunk of the carbon abatement pie.

All IMO, please DYOR and GLTAH.