I think that Alexium's experience in trying to win the military...

I think that Alexium's experience in trying to win the military contract is a testament to how difficult it is to just "come up" with a FR formula that meets all the requirements. Its not just about being able to make something fire resistant, you also have to worry about the weight, the feel, the toxicity, the amount of washes it lasts, the breathability etc etc.

Sure the big players have more resources and can throw money at chemists to come up with a new formula, but if it came down to spending say $200 mil on R&D vs buying out a company with established tech and customers?

Not denying there is risk, but thats why if Alexium is succesful the reward will be greater. Otherwise if you're enamored with the billion dollar revenues of the top 50 chemical companies, just buy their shares.