It is obvious - process too risky to fund There is FDA GRAS in USA now for one year and the GEA report for 9 months yet
No deal can be obtained from the many USA food giants ???
BioExx is relegated to chase a deal where there is NO EU approval yet and maybe not until July or Sept 2013
With cash burnout imminent from last year you would think that they could have had a letter of intent from some North American player rather than borrow 6.4 million from Romspen for 1 year at 12% due in June 2013 and a further 3 million debenture loan to themselves also at 12%
smells like desperation for them now.
If the process really works then some deal would have occurred in the USA market when a company could sell
The fact nobody here would put up 65 million to get Saskatoon operational (18 months to get production) indicates the extraction of rapeseed Canola protein by water and enzyme only just is TOO RISKY otherwise the wise food business people in NA would be all over it they certainly would not let the Europeans show them uup chasing the EU path with uncertain timeline for approval is recipe for CCAA
let's face it - it was over from Nov 14, 2011 when the solvent method failed after4 years of hype and 100 million of investor rape....seed