Just joined the zoom call and both gentlemen were very positive around recent performance improvements and vertical integration developments. The fifth contract manager appears to be working very closely with BluGlass as they are only 30 minutes from our new fab. This appears to be more like ongoing collaboration than moving away from them which impresses me from an IP sharing perspective.
I really liked their positivity around new business opportunities in greenfield areas and they appear to be getting good interest from existing markets as well. Looks very much like this business is about to kick some goals.
$7million probable R&D rebate in September quarter sounds good from cash runway point of view and possible funding round sometime mid to late 2024 - hope they tap shareholders first with a SPP and maybe some attaching options to keep it in house. They might want to bring institutional investors onboard so we will see.
All good progress.
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