RE: Cash Burn an Issue...Cash burn has always been the issue with LEC, and most other junior industrials.
In my view they have been remarkable in their year by year ability to continue to meet various benchmarks to qualify for the renewal and expansion of the research and other grants. Those who remember the Tech Bubble circa '98-2000 will recall how quickly the IPO money vanished for most start-ups - up in smoke then down in flames.
Lignol's corporate 'conservatism' has kept me long, and led me to recently double up an already 6-figure position. The recent rally has created a significant overweight of the position in my portfolio, but CEO Ross McLaughlin has the market and technical nous, imho, to lead LEC forward on its corporate path. Over the course of the last few months I have had enough extended phone discussions with him to establish confidence in his capacities.
It's always satisfying to be overweight a big winner. ;^)
I suggest following Jesse Livermore's advice - "Be right and sit tight." We may have a 10-bagger here.
DYODD.