I have had a first (quick) read and I like the way it gives the whole history about how they got here. The way it is written helps me understand a fair bit of the journey and the science. There are relative comparison companies and an attempt to value it on a probability basis. Good thing about this - 1. Assumes they raise money at 3c one day so if it is 5c or 10c then the valuation per share simply increases because the denominator drops 2. The discount rate used is 15% so if a few things go right this could come down also increasing the valuation 3. It gives some clear 'steps' to look for that will set it on the path to a VLA style valuation eg CEO & accelerating the programs (by raising $) 4. It clearly shows that there is potentially unlimited possibilities of future development so each additional development incrementally adds to the valuation 5. It shows there is about 10 years left of original patent life but that the potential for patent protection as each development is uncovered is 'unlimited'.
Will keep reading and interested in our smarties points of view.
Either way with this and the Euroz piece starting to do the rounds I can only assume the company is ramping up it's efforts in investor relations as requested by many. Cynics might interpret it as PR for a CR but I think the cash at bank should dampen those expectations or if there is a CR this year it would be to accelerate and expand the program - reminds me of ADO when it did one after breaking multi year resistance at 10c (raise was at 12.5c when the SP was about 15c and it headed to 28c soon after) hopefully the VLA comparison is better with the raise in the high 20s and it is now sustainably over $1 !!
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