I'll also add that I see a severe cash flow issue coming over the next 12-18 months for the following reasons.
First, I am quite certain that at least initially, the company's losses will increase as they and if they move into production, Capex may decrease but Opex will increase.
If an uplist happens, I see a maximum of $20,000,000 being raised. I get this number by estimating that the market cap will take a haircut to about $60,000,000 and the registration statement can only include 1/3 of the public float. At best, I believe they's raise $20,000,000. By way of agreement, 1/3 of that goes to John Fife.
At the same time, the SEC is suing toxic lenders like Fife so most toxic lenders feel they are dead man walking. That game is coming to an end.
The only way to raise capital is through a BD with a simultaneous registration statement or a Reg A.
However, the Reg A probably can't be filed 2 weeks are the S-1 goes effective and a Reg A typically takes about 60 days to be approved by the SEC.
So with the decreasing ability to raise money through toxic lenders, the limit on any financing that is done through Roth, and the sizable debt that is currently on the books, a major cash crunch may be happening Q3 and Q4 for the current fiscal year. If Fife is not paid off completely which will not happen, highly likely he starts to convert which will put pressure on the stock price.
If I was NS, I would hire a very good lawyer and attempt to get an injunction against Fife and all other Toxic lenders and use the SEC's lawsuits against these guys as a blueprint.
They will have to post a hell of a bond but it may be a smart way to go.
