Additionally, The recent news articles about Phoenix suggests Nick is looking for a partner. Even the latest update from Phoenix talks about the "partnering process to be completed by...."
However, in the past webinars, Nick mostly used the term "liquidity event." Now, entering into JV typically does not count as a liquidity event; instead, IPO or takeover is normally considered a "liquidity event." So, we have mix signals here!
For us private shareholders getting cash is more likely with a "liquidity event" than with JV.
