I agree, I've been steadily accumulating and averaging down...

I agree, I've been steadily accumulating and averaging down since 2008.
Once the passive holding in PrIME is brought to book (valued), on any objective basis the SP should really take off.
Pros IMHO:
Fantastic IP - PrIME & SpermSep are just the start for this tech;
Good experienced (relatively new) board and Chair;
Minority shareholders and investors who control PrIME will ensure the PrIME Board delivers;
Directors of PrIME have skin in the game;
debt now under control with balance sheet in much better shape;
lots of additional potential applications e.g. portable dialysis for kidney patients ;
remaining shareholders are pretty loyal (enthusiasts);
Good connections with the academic community;
good cost control; and
demonstrable progress in line with outline previously given (predictability)
Cons IMHO:
Previous board had entrepreneurial focus (not a bad thing) but allowed governance to slip;
Enforceable undertaking given to ASIC in relation of some excesses of the past;
Historically stock very thinly traded;
No independent research in recent times;
It appears there is a need to raise some additional capital so future dilution could be an issue; and
Like all start up biotech coys it requires a lot of patience and a long time horizon to see anything like full potential achieved.
CONCLUSION IMHO is that this isn't a stock for the day trader (just look at volumes over the last five years) but it deserves a thorough researching and consideration by anyone wanting to speculate by investing long term in an under-priced ethical medical company that can potentially make a real difference to peoples' lives. Remember Cochlear & Resmed were minnows too at one point in time.
DYOR
Kind regards,