They raised $3 million via spp in January this year as well that...

They raised $3 million via spp in January this year as well that you should add to your equation. By your summation, they should, in fact, be able to survive for at least 4 halves or 2 years so that should be enough to ride out until break even. In many cases you are correct in this case you have to look at some of the behaviours and the actual results versus the expectations and announcements and that has created the credibility gap in my opinion.

I don't believe in high-interest financing - I think the company is higher risk as you reflect by saying you expect nothing in the event of failure... It is speculative and because of that, I want to invest where the company is in control of the assets not bankers. Nor do I really want to see the company paying 18% as it's the shareholders' money that gets used to do that.

There is a playbook that wins - rebuilding margin and customers and probably an army order. Even the testing equipment for the PCM.

4c's won't do it for me - the company has decided not to disclose the working capital movements so pure cash flow movement in any quarter does not excite me as the creditors can be pushed out and you can delay payments for raw materials - really 4c was, in my opinion, designed for exploration companies and told you cash burn more than anything else.

Anyway, I am not here to convince anyone and really I hope it does win. I think we need these products. To me its closer to adventure capital than I like.