I was in Vancouver this past week and had the opportunity to talk to Doug the president and Wolfe from Spinner. They were both very excited about this next week, and the progress they are making. They were somewhat unfazed by my complaints about the delays of the past months. Wolfe for example, would only say that this is a complicated deal with equipment worth $1.5 million, and that these things don't happen overnight or to an investor's schedule. But he was enthusiastic about where they are now, and said that since they have more control over events things will start happening with better reliability. He also talked about their potential markets and where they see the orders coming from. I'll try to fill that in later.
Doug assured me that there would be some news releases this next week which will explain where they are.
Looking ahead, they need to announce:
- the equipment delivery day or that the equipment is delivered,
- the signing of a lease for a building and its location,
- the equipment installation date,
- equipment start-up date,
- significant orders,
- financing information,
- clear-up of his cease trade order (and probably the resulting fines), and
- any significant orders.
I know I have been frustrated by my inability to contact Lawrie lately, and there may be people out there that feel the same way. But after talking to Doug and Wolfe I am confident that everything is under control, and going ahead. Yes there are missed dates, but there is no smoke and mirrors from what I can see. In my opinion this is the real deal, and there will eventually be the cash flow we have been talking about.
Ted
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