The only quick things i will say is that i don't see why V3 has...

The only quick things i will say is that i don't see why V3 has to be commercially available before they can get a licencing deal. I'm sure if a prototype exists that can be verified as being an another level to V2 then that carries weight. I think it's clear that they are distancing themselves from more years of cap raises. The ducks look well lined up. Mgmt have got their shares at low prices, it literally helps no-one to draw this out.
They've done what's required of them by the US investment bankers to get this in a position where they can pitch for a licensing deal (although i didn't necessarily like the way they outlined what the US investment banks needed and then went out and did it - it makes them look weak and without business acumen - but good on them for doing it)

And tbh i don't think you open up a data room just to let it sit there - it actually costs money to have the data room open.

I still look at the company value of $20m and believe that some big players will be willing to make a play on this. I'm expecting a deal to be done around the middle of next year that values ALT between $60-$100m or 2.7c-4.5c per share. My take, and my take only