Ionic Capital Raise, page-86

If they can make a working product that is also cost competitive by mid 2018 the SP will more than double, perhaps much more than double and make the IPO possible. Having said that the company has not managed to meet its own timelines for many years now but the collaboration underway could change that, it should bring focus to the project where hopefully they put all their energy into one commercial product rather than several that fade away over time. At the current SP there are few risks and the company has the cash to get push its accelerated research without another CR for at least 12 months. At the mere whiff of success those who bought in below a couple of cents will do very well.