hard to know what future holds, given their history, yeah,...

hard to know what future holds, given their history, yeah, dilutive increase in mcap is likely, not denying that. Some will prob happen soon as part of funding or another CR to keep lights on till funding comes through. God only knows.

however, MQ & Jac hold ~ 50m soi between them so would think eventually there’l be a positive exit for them. Yes some of it was free perf rights etc but for MQ good chunk was paid.

also, our #1 holder @Skell did their note conversion for ~ 160m soi at 0.7c usd (~ 1-1.1c aud) & then added 1:6 in the rights issue at 3c. Their avg would prob be around 1.3c for 10% of the company.

you don’t put ($3.5m in today’s value) in a spec stock & become the major holder for a measly 20-30% trade. that the top 20 has been relatively stable with ~ 40% holding & minimal changes (mainly they haven’t exited is what matters to me) despite the 1.6-14.5-1.4 journey, suggests irrespective of short term pain (which it has been in all honesty), long term they’ll need an exit & hard to see them selling < 3c (which you’re expecting to be wishful).

am fine with the risk reward (for now at least).