ok, to speculate, it's often the case that scientists are...

ok, to speculate, it's often the case that scientists are trained to under sell. If something works 99.9%, they still like to say 'work to be done, not quite there'.
At some point have to bite the bullet and go with what you have. Now for a client facing CEO, it's a fine line. Better to under promise and over deliver, which is what I think Mo was adept at. But what does a CEO communicate to shareholders? I think it should be more detailed and certainly it helps immensely to know how the devices will be used, how the company sees it being used, what problem out there that it solves. Gives us an idea of real world uses, market size etc. That brings some retail confidence and can encourage new investors, keeps things liquid. Let's face it, for pre revenue companies, the equity, the shares are the real value for now. Good to keep the vision of the company clear and regular updates happening.

AXE is a bit of an outlier that it's a deep tech startup that didn't go the VC funding route but went public from the start. Did not have to do pre seed, series A funding. Also had the no strings attached government R&D funding. If it had VCs they would have been strategic investors who are comfortable with the very high risk. Instead it's us and I would say those of us who are here for the long term are individuals who are ok with the risk. However I feel AXE has done a great job this year of allaying my own slight misgivings. End of the day, I have to be satisfied the teams are focused on an end goal and that they're following the right paths to get to commercialisation. I am quite convinced they are doing everything I expect them to do at this stage. Plus we have around $20 mil plus annual grant funding.