Ann: Quarterly Activities Report, page-2

No doubt a few more impatient traders might be unhappy that today's news was not the supplier agreement (or DFS). There was not a lot new in the update but it was still a very positive summary of an excellent quarter.

New guidance is that the DFS will be out mid March quarter. That's only around two weeks away and the supplier agreement must be due out ahead of that, so that could come any day.
The Boehmite update is interesting with other end users now expressing interest - in addition to the "significant Japanese Li-ion battery separator manufacturer" that initially asked for samples.
The German research collaboration is also looking very interesting with results expected in February on HPA samples sent for testing these new applications.
Last but not least, with solid pilot plant activity last quarter, cash outflows were $890k and cash on hand at the end of the quarter was $4.9mill - enough for another 1.25 years at the current burn rate. No need for any cr ahead of any decision to proceed.