HMD Chart, page-215

I personally cannot see that inflationary risk pertains to HMD at the moment. The only impact inflation has on HMD is the way in which the overall appetite for equities is diminished by the possibility of inflation. It hasn’t happened yet so it’s more the possibility than the reality. Further to Vegans comments, should these deals get over the line then the increase in revenue will far exceed the increase in inflation.

HMD has cash on hand from Capital Raising not from a debt facility. Inflation won’t harm the credit risk as it stands. If the deals click over into revenue then we become self-funding which further insulates us from inflation risk and credit risk.

absolutely a great day to buy!