Ann: Renounceable Entitlement Offer to Fund Development and Growt, page-214

unfortunately the company has not progressed much closer to production over the past 3 years….. Because the company could not progress past this point they were forced to spend the last few years evolving. It was pitched as a strategic move for the benefit of all stakeholders, and i admit i bought into that for a bit, but in retrospect it seems the evolution and subsequent dilution over the past 3 years was a necessity to keep the company alive. People should be asking themselves why do we keep hitting a brick wall at this point? There are dozens of players out there that could fund this or even acquire it with the loose change in their pocket but it doesn’t matter how much the company has shopped it around there have been no takers.
My prediction is if this ends up being another brick wall LPD is in for another groundbreaking evolution in the process to something MAX that keeps baiting people into continued credit raises to keep the company alive and management lifestyles afloat.
If some concrete progress occurs along the current course then happy days they are getting somewhere, but I’ve lost all confidence at the moment. Forget LOIs MOUs they should have been secured years ago! The company needs to be fully funded/financed full stop.