Ann: March 2023 Quarterly Activities & Cash Flow Report, page-24

I sold yesterday too. I've been invested since the beginning and have bought extra along the way. I've endured the continual disappointments with the repeated promises from management that "everything will be OK soon". To see another $1.1M spent on Ecogas with no end in sight and only 2 months of cash (probably only one given it is now May), was the straw that broke the camel's back. Maybe Delorean will get funding, but at what cost? More dilution, more debt, and more missed deadlines. At this point, I think I would have a better chance making my money back on the roulette table.

I try to avoid speculative stocks. I fell for the sales pitch and thought the company was attractively valued given the overheated market at the time. This was supposed to be a company with a clear plan and a proven track record. The (mis)use of IPO funds to save the founders from pre-IPO loss-making contracts is borderline fraudulent given how shareholders were kept in the dark until it was far too late. I think I would have rather put all of the money in a speculative miner, had them fail to find anything, and go bust. That would have felt like a fairer transaction at least.

I don't panic sell either, and like many of us, have endured huge downswings on this stock since IPO. Like @desertredlion, I would have been happy to ride this stock all the way to zero if we had transparent communication and competent management. COVID has been a huge disruptor, and I understand that many industries have been destabilised. But I don't want to own this company anymore.

Yesterday, I took one more drive to the SA1 site. I loved the idea of owning a small part of that...

Good luck to all of you.