lessons learnt? ... maybe, page-7

All I can say is the same as I have said to every one else who has asked this question - This is high risk tech spec with a well protected patented product which is scalable and applicable to a wide range of ballistics applications. it is competing in a market which has no 'rules" and is as corrupted in parts as agriculture. The share price is heavily diluted and unless a substantial production contract is achieved within two years the coy shares will be worthless. If capital appreciation is your goal then the odds are better than the Lottery but no where near as good as a block of land in the middle of Shanghai.
Secured noteholders rank ahead of shareholders and the price per secured note reflects that ranking. The major holders are Citi, Harmony investments, GEM, Papua New Guinea Ports and a bloke called Doyle as well as the original inventor who has been selling down for some two years now for personal reasons.

There has been strong interest from various Overseas Defense and associated departments in prototypes applying the technology and one major ammunition/arms supplier - STK- has committed to life cycle support of the 3GL (a multi shot 40mm grenade launcher) when it is ready for production, the ammo range includes both lethal and non lethal cartridges and the ammunition is partly certified, non HE is certified, HE is not at the time of writing.

The coy is resident and was begun in Aust and the Aust DOD has not committed to any meaningful support of a production version of any of the possible applications (IMO typical would not recognise a good product until someone hits them over the head with it!!!).

So there you have it IMO all this of course.