“What highly functioning board would allow a 40% share at the...

“What highly functioning board would allow a 40% share at the table for a 20% investment?” - one with high cash burn who is reliant on 3rd parties to sell product to end customers to generate cashflow.

VML are dependent, and always will be, on their mixed RE being processed in order to generate cashflow. They were obviously running out of time/money treading water waiting for Reetec/Ucore and unable to sign any new customers which put them in a vulnerable position. This is why Geoff is gone.

I dont see any reason why Geoff couldnt have replicate the MP model and sell direct to customers using china for separation. Theres far too much upside/demand for Lion to do anything else other than start securing customers and selling product.

Lion still have the separation issue to deal with but why on earth would they take a $30m position without having that solved?