Something is Brewing, page-133

In the market, there are different investors that work with different mandates eg, series A, B, C for private equity. They don’t mind buy on pre-revenue. Softbank, Israel cleantech are eg. 

Some don’t mind buying pre-profits as long as the new tech has potential. Milestones are important for them. They are usually theme specific eg cleantech funds etc. I suspect the US placees fall under this category.  

Some mandates have to buy on actual profits and growing at 20% pa at that. They are the mainstream value players. With the free float bordering on 75%, it’s time to reach out to this bunch. They are the biggest lot of them and the most sceptical. They have the task of soaking up the remaining 10% or 50m shares  of the free float. 
So it makes a lot of sense to do a road show now. The Aussies are the low fruits. Less than 5 listcos in the water space . Don’t try HK. They have 50 listed there. Most of them are in the BOT/EPC space. Very important that FLC harps on smart packaging to differentiate themselves.  BOTs are a dime a dozen.