4Seasons, To show that you are not are misrepresenting (or...

4Seasons,

To show that you are not are misrepresenting (or failing to understand) what I am saying, could you show me where I said MSB was "running out of money"?

What I have said out is that, at the current rate of cash burn, in about 12 months' time the company will have depleted its cash reserves.

But if you truly believe that company boards and financial directors wait until the last dollar is spent before moving to lock in funding for their businesses, then I'm afraid you don't understand the functionings of capital markets.

For even if the company's managers were to, somehow, leave the finalising of funding to the last minute, investment markets - being forward-looking in nature - don't, and they start to quite quickly price funding pressure into the value of listed securities, with this effect intensifying over time.

(Of course, if you believe this is all irrelevant and that MSB will be generating $120m in Net Receipts from sales this time next year, which would cover the current annual cash outgoings, then I'm sure there are many followers of this forum who would be extremely keen for you to share how you see that happening.)