On the last point, I don't worry much. If they get cash flow...

On the last point, I don't worry much.

If they get cash flow neutral and revenue growing, investors will be interested. By way of example, I've been doing due diligence on a company (completely different industry) located in a country that many would prefer to avoid (myself included on first and second pass). However they will soon be cash flow positive and discounted because of country risk. I'm coming around to considering it investable but, of course, will size for country risk.

If they get the market cap growing, indices and institutions will be interested... but this won't be overnight.

On the second last point, the company (with RIMAB) is probably closer to cashflow neutral than the market thinks. My sense is the company hasn't committed to anything because the accounting for RIMAB is probably going to be messy and the ongoing pandemic means revenue (in particular one-offs) are likely to be all over the place.

We'll see how helpful management is in their February reporting. Hopefully we'll see a pro-forma of the company (with RIMAB) for the entire period.