SER grossly overhyped

SER is enjoying a bull run but much of the commentary about the company is simply hot air.
The truth is that SER has been developing products such as Supersand for some 5 years and still has not commercialiased any of them. It has never reached a milestone on time and consistently uderperformed. Basically it has survived from one research grant to the next but they are finally coming to an end. An important question is whether the company is spinning off Ionic because it has run out of grants or because it is truly ready to go it alone. I suspect the former is the case because it seems highly improbably that it will ever be profitable, even on its own timeline it is years away from commercialisation. It will need ongoing funding and share holders are likely looking at multiple credit raisings and dilution over the next few years. There is no income on the horizon and there may never be. It seems to be overlooked that the products the company is developing are simultanously being created by far larger and more sophisticated corporations overseas. And SER has not patented its research outcomes, it holds just 2 patents on obscure technology and they will not prevent it being left far behind in the race to market. Not for the high risk adverse in my opinion.