Ann: December 2015 Quarterly Activities & Cashflow Reports, page-13

Ionic has zero debt, ok but large capital investments are needed to get products commercialised. Capital is not just needed for months but going by past performance years. Supersand/ Smartsand has been in the pipeline since 2011 and nowhere near commercialised. As for the rest of the products, they are a long way off commercialisation. There are no feasibility studies have been done showing they are superior to existing products e.g. Supersand versus activated charcoal. Now where will the money come from? The SP will not sustain credit raising, who would lend the company funds on such flimsy prospects? A cornerstone investor is just a dream in my opinion. The price when the IPO launches will be the top of a steadily declining chart. Insolvency down the track is a strong possibility, just like the other SER offspring VXL, now with no income and more than $5m in debt and mothballed.

Just my opinion DYOR