You're right; the reality is that none of the QD companies that you can invest in publicly have created commercial revenues, however the larger reality is that neither has demonstrated that they can. I know folks don't like to consider the Dow example, but it's exactly on point. Nanoco convinced Dow they could show Dow how to scale up production in a way that was commercially viable, and Dow signed a license agreement with them. Dow spent a bunch of money building a plant, and today, years later, they are exactly where you said they are: no commercial revenues. A bunch of smart people though they could do it, however it would appear there were unforeseen challenges.

I'm not saying QMC can't do it or won't do it. I'm simply saying that we all just saw how an all-but-identical deal can end up in a way that you didn't think was likely or possible going in. When someone suggests it's a foregone conclusion that QMC can scale up from making a few grams in a lab to several tons of commercially-viable product in a factory with no risk of failure, that's simply not true. There is no disputing that.

I haven't said that what their doing in India is a bad thing, in fact I've written exactly the opposite. If you don't like the negativity around the press releases, it would probably be best to talk to the company and ask them to stop creating more questions than they answer. It's not too much to expect some specifics around cash flow from a company in their position, particularly when they vary significantly from previous announcements. It's not too much to question why they include a picture that doesn't even remotely begin to demonstrate what they have claimed, and so on.