Ann: Notice of Exercise of Options, page-7

"too much risk of a capital raising"

IMHO

David's recent commentary would lead us to believe a CR is not likely to happen.

Funding could come from many different avenues with a CR being the least likely.

Last December there was mention of increasing short-term revenue from life sciences. I'm expecting something from left field re way of a partnership/joint product, licensing etc

Although the Trinseo and Wyon deals didn't mention $$$, lets see what happens when milestones are met and they turn into Commercial agreements.

With many more deals to come, will any be fully-fledged commercial deals with $ attached? we haven't heard anymore from Enax and the un-named battery company that had excellent results using AnteoX. Almost a year ago they sounded very far advanced.

and then there is Federal, state, and overseas funding

The days of taking the easy way of tapping shareholders for $ to keep the lights on are over.

This is a new ADO with a commercial mindset.

"Watch this space" David Radford