Ann: Half Year Accounts, page-5

Yes, from memory on one of the crux interviews JW also stated that it would be the last raise for current investors.

However, we need to take into consideration the strategic equity option. Significant dilution could occur if a large holding was given to a strategic investor. That is why the leasing option stated in the last interview sounded appealing. If they could get someone to build the plant, and LPD just leased and operate it, it would be an effective way of getting substantial cashflow without giving away more shares in the company at ridiculously cheap prices. Opex would substantially rise, but depending on a deal could be very attractive.

Further discussion on this type of scenario is one of my highlights from the report:



It suggests that they are really trying to optomise the very little money they have, to maximise the potential of their technology and expand faster than they could otherwise.

Let's see what they end up with.