2.Liquidity Risk

In February 2016, the Company raised $5.9 million (net of costs of $600 thousand) from the private placement of 12.9 million shares priced at $0.50 per share.  The rationale for raising funds was partially due to the timing of contracted deliveries and payment commitments in 2016.  The Company has relied primarily on cash flow from operations since deliveries from production commenced on a regular basis in 2014.

It is possible that additional funding might be sought.  Although the Company has been successful in raising debt and equity financing in the past, there can be no guarantee that such funding will be available in the future.