EPA application timelines, page-186

Unless Delphi bring the suitor to the table and are part of the takeover. They make a solid 300% on their initial investment, get a seat at the table and contribute to the T/O to control more than 8-10%.

Bruce talking about 'people needing to pay for it' will probably be a non-issue if they try to take the company for $500million. After all, Bruce is fantastic at talking in the abstract. He very clearly quantifies time and money differently to what you or I do, as is evident by the xmas offtakes and within reach EPA approval.