Management is investing in site infrastructure and engineering milestones at Cedar Port, and acquired RPD to add internal capability and an interim revenue stream.
These moves are strategically coherent for de‑risking, yet they come with dilution (registered direct offering, equity line activity) and related‑party complexity (RPD purchase from a controlling shareholder via a secured convertible note), which elevates governance risk.
The new credit facility suggests focus on simplifying capital structure, but the model remains capital intensive and equity‑reliant until projects are financed at the asset level.







