For what its worth ...I am happy with my investment in BGT ...IF...

For what its worth ...I am happy with my investment in BGT ...IF successful as previously detailed in the Henlow analyst report on BGT dated I think 6 April and by other posters and myself then BGT will be many multiples of the current price.

Those potential 'multiples' come at a RISK that is why we choose to invest at this small cap / no revenue at the moment companies, hoping that we can pick the 'winners' as many small companies on the ASX whither on the vine and eventually through endless dilution some eventually get taken over for peanuts or fail.

As Stormer as laid out I see a lot of very positive progress by BGT, we are not tied to our product is not tied to one use, insecticide, grain storage and potentially others and not tied to one customer BASF and Clarke Evaluation Agreements and 6 other MGA with more anticipated. The positive progress announcements are at the moment ticking off one by one the well laid requirements "gates' BGT must pass through on the well laid out road to commercialization.

We know IF we continue to pass through these development gates/ steps it should lead to commercial agreements and license revenue agreements with BASF and Clarke in approximately 24 months. I anticipate IF we successfully pass through these development gates /steps and get closer to commercialization the stock price should start to climb.

Conversely IF we have set back or failure in these test and various steps the share price will negatively reflect this.

To me the recent progress on the products with BASF and Clarkes has taken a lot of the risk off the table .... however there is still along way to go and hence the RISK premium in the share price.

I think given the uncertainty in the world it was not a bad time to raise funds now we do not know what the COVID and Economic future holds, I would hope this will be our last raise, however that may depend if we use our own owned facilities to produce the 'Favorcide' or whether we simply license it for others to produce. Having said that I cannot see BGT committing to a production facility requiring funding without a signed commercial agreement containing purchase "off take" clauses.

I would acknowledge that the fund raising was poorly handled and has to some extent, for some, created a loss of confidence in management. I happen to believe that we have an excellent well qualified board CEO and management team and advisers to get us to commercialization.
I believe they offered the raise to existing shareholders as at A$0.15 it was below the price of the price prior to raise and they thought that it would be fair to existing shareholders to do so.

IF we continue to successfully navigate our way down the road to commercialization I believe the BGT Board would be well advised to review changing Henlow or adding a further "primary' broker, perhaps a major international US merchant bank / broker and consider listing on the NASDAQ. Even now with the excellent research conducted on our behalf by Purdue University in the US and the progress with our 8 MGA and 2 Commercial agreements with BASF and Clarke (a US Company) I am convinced we could with a good US Marchant bank list on the NASDAQ and attract a much higher market capitalization.

Yes the Henlow Analyst Report of April 6 2020 was one of the best I have seen for a small company it was probably drafted by our CEO Richard Jagger for 'finessing' by Henlow whose only way to get Credit Raise seems to be to how much they have to 'discount' it. I do not think Henlow seem to have the investor contacts and or know how to successfully market a company like BGT, with the share price holding well and well supported at the A$0.18 -0.19 range any large individual, family office / trust and smaller institutional wanting a position would have had to push the price higher than A$0.18-0.19 instead Henlow appear to have advised the BOD and CEO that the only way to raise was at a large discount circa 20% (down from A$0.19 - 0.18 to a CR price of A$0.15. and with that 'tarnished' some shareholders faith in BGT Board and Management a big pity. It will take some good results in Aug/ Sept and perhaps some new MGA and Evaluation Agreements to restore the lost faith.

For an old guy like me watching the grass grow 24 months will pass quickly, its pretty simple, if I see further BGT success down the road to commercialization I will probably buy some more, if we have a set back I will re- evaluate my investment and determine how much of a set back it is. If I see another company that I like the look of better I will lighten up from my existing portfolio and invest some in the new company.

Investing is a personal choice, there is still risk here in BGT, however I am very happy with my investment in BGT for now and apart from the discount of the recent Capital raise highly regard our Board and CEO. Henlow less so.

So best for now to chill and wait for hopefully further good news