Ann: Strategy Update, page-15

I’m glad they’re adopting a staged approach as this was one of the questions I raised when liaising with David.
If they can raise say $2M every 3 months, each stage will presumably be at a higher price due to continue goals
being met. Creating less dilution for SH’s and you’d assume raising 2M at a time would be far more palatable for investors.

If they were able to raise the first $4M to advance the BFS and we actually saw progress (milestones being met and an increase in SP) I imagine they’d generate excitement with existing holders. Likely enough so for us to dig deep and come up with a sizeable amount of the remaining $4M needed.