Lepidico Today, page-31

Same boat here.

It's impossible to tell how it might look this far out. You're trying to estimate the business model, cash flow and capital structure while they're still evolving behind the scenes.

My guess is that if they can fund P1 without more dilution, P2, P3 etc will be funded from cash flow. There'd only be another equity issue if there was a business they wanted to buy etc.

So a combination of retaining cash and probably taking out some debt, which they could easily service with P1 humming along, would fund expansion, but that leaves nothing for dividends.

I would hazard a guess at it being 2024 before the d-word is even contemplated, but it would be handsome for those who jumped in early.

So I don't see it paying me to retire before I'm 30, unfortunately.