I think Elizabeth has addressed reasons why the company might...

I think Elizabeth has addressed reasons why the company might have struggled to gain a strong footing as a private company and how post listing might have reason to expect differently. As a non holder, if these things didn't sit well for you then totally understandable you didn't invest. This is a risky play, as are most at this end of the market.

What I don't get is that people who invested knew the company had been around in some form prior and are getting very frustrated and some seem to be writing them off when they have only been listed 5 months. I would assume if everyone did their due diligence, they must have thought that VRI as an ASX listed company had greater potential than before in order to buy in. In this case, I think we either have to give them the time to get these pilots and trials done or should have probably well and truly sold when it was clear it was in a downward trend. If these pilots and trials don't lead to anything then it's a big problem. It's a risk, but I've always thought of this as a longer term play.

I agree option conversion looks dicey atm, but not a write off yet. A good deal or two would change things. People tend to have fickle memories and the SP was in the mid 7s just a month ago so it could just as easily move back there or more to get many people in the money with their oppies before expiry. Will need more than a pilot for sure, but that is a start.