It pains me to say this but without the jab about lake Tahoe, you are right on the mark in your analysis.
This unfortunately is par for the course for any medical device company that needs to go through all these hurdle. Covid and the manner in which the study was created caused for lost time and money.
Proulx took a road that was supposed to be ea$ier and it turned into a messy, long winding road and overall expensive. Reaction was slow and videos and interviews were much too many. Results are a 5 cent AUD stock and dropping fast.
The only bright spot is that the nanoparticle development and sales seems to be moving in a positive direction, this alone can provide added revenue and hopefully less dilution going forward.
As always, just IMHO.
Good luck to all of us.
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