If I had a dollar for every project the BOD chipped into a CR...

If I had a dollar for every project the BOD chipped into a CR for, yet never got off the ground I'd be a lot wealthier. It's great investor signalling, helps brokers get CR's away at higher prices (less dilutive) etc but in the scheme of bags of free PR's (historic and issued each year) and large salaries across multiple individuals $400k seems pretty insignificant.

Regardless of who put in what, and lifted their average holding cost where... I like to see how it works myself rather than rely on virtue signals. No question it's feasible to extract REO's into a MREC from clay, but where are the details of what it took to do it? I keep a watching brief with interest.