You are missing the other usual Venture capital sting where the...

You are missing the other usual Venture capital sting where the work you put in is not paid in cash but rather in retaining part of your % ownership of a shell you have no control over so you don't actually get a income. . VC draw cash wages and costs at inflated rates and then refinance at next tranche at a different valuation and only open to them or do it via loans ( assuming there is positive progress )

Not a usual pathway for a established company to take but SPL have obviously felt out the market and with current management can't progress of fund currently IMO . So they have gone down startup and still wear much of the risk? Wilkl change my mind when more details are released.

Lets see what structure is and what info is provided,
I am stunned ASIC and ASX allowed this shallow hollow detailess announcement to be done and trading to be allowed before detail is released. I expect a ASX query if full tranche and investment condition detail is not released.

This is VC start up 101 - better than nothing but is nit a white knight . VC get look under bonnet at stuff all cost and can dilute SPL out of success at later stages and use all SPL resources at a discount in mean time .

What a shame SPL didn't employ the CEO as he would have cleared shop and focused quickly. Any form of blackout was probably a MD background lowball offer hanging over SPL and this is the best deal SPL could conjure

Best part of this is the CEO will quickly look at candidates and assess potential multiple times and continue to do so at a fast rate on SPL $ and if there is a success it will be offered to big pharma or progress as they already have access to big pharma and know the speed and efficiency in trials and value they can add when it comes to later stage

Smartest peoplel in the room are not SPL unless they know they don't have much or know it is so far out to early stage success . Wonder if there is any vested interests and relationshops here?