I think the "nothing but..." comment is off. They do have a HUGE...

I think the "nothing but..." comment is off. They do have a HUGE amount of developed IP which (with the question of the repute of EM aside) is well protected internationally and is the product of many difficult years of R&D, made more difficult by Covid.

They do have advanced prototyped product, a newly minted supplier agreement in place, stable shareholding, a raft of NDAs with significant players etc. There's stuff here for sure....