I love the idea of BLG - they are into really exciting...

I love the idea of BLG - they are into really exciting technology at exactly the right time, but for where they are, they seem expensive to me.

Maybe I'm excessively cynical, but it seems to me that they are being priced as though there is no technology risk, no implementation risk, no financial risk and no competition risk. These all seem like major risks to me.

Their cash burn is rapidly depleting their reserves, even after the recent capital raising, and they don't have a concrete path to profitability.

I really hope they can do it, but it seems to me that the risk is on the downside at current prices. If I were them I'd be using the optimism in the current share price to raise more capital before they have to do it at much more diluting prices.

Perhaps the optimistic share price is because some in the market know more than the publicly available information. Maybe there are large government grants, deals or technological breakthroughs right around the corner... but on the information I've seen BLG seems promising, but way too expensive.