dont over think this bottom line,they spent a bunch of money on a process that when scaled up did not work
they seem to have another process that they and GEA believe is scalable but lack the funding or ability to raise the funding to complete the buisness plan they had originally intended.
Go figure someone with a new technology underestimated the cost and timeline to bring to market!!!!!!
so now its find a partner- but your vulnerable,vrs dealing from strength
my belief is they should have partnered from the get go,they may have given something up but could have hedged their bets.
in oil and gas development if your building new technology always best to have a big guy along for the ride,you get less but you minimize risk of outright failure due to undercapitalization.
its a rookie mistake Chris Carl
Schnarr is trying to fix after the fact,we shall see if he can pull it off
Its not a mystery why we are .24 cents or that the cost has ramped up,it was lowsy execution,by an inexperienced manager and leader.
lets hope we can fix it and Bioexx will be a good opportunity once again