Exactly Bob. As usual, you have hit the nail squarely on its...

Exactly Bob. As usual, you have hit the nail squarely on its head. We are very close now!

Why did Fred not raise additional funds during recent months when he knew very well that the ASX would be unimpressed by his funding statements? Why did he proceed down this tight financial path given that he is not a dummy and knew the risks of suspension? He must have had a very good reason for this.

Let's put the wacko conspiracy theories presented by the death and doom squad aside as they do not represent anything close to reality.

We have all seen Fred's doggedness in not issuing new shares unless absolutely necessary. And even then he normally dips in to his own pockets for cash to buy additional shares so that his holding is not diluted. This is why he still holds about 23% of the register and why there are only about 30 million shares on issue.

So if Fred raised additional cash in the last few months, then his holding would be diluted and shares would have been issued at historical lows. Versus just holding out that little bit longer and getting the first batch of chips ready for a demo. Very, very soon. Then, once a demo has been presented, the SP will have soared and only a few new shares need be issued for the circa $15 million required for the 1st stage fabrication effort.

This, I believe, is the reason why he is flying close to the wind here. Nothing out of the ordinary for poker game Fred. He's betting that the chips are very close to being demo'd. The bets are all on the table and it's almost time for the fat lady : )