Rich, I was not able to listen in to the conference call so I'm not sure we are getting a skeptic's perspective on what was said. A couple of comments, however.
First, the 10-Q attributed some of the increase in the burn rate last quarter to the loss of support from Delphi. Some of the increase is also attributed to increased efforts to develop the product. It doesn't say how much is attributed to each factor.
Second, you said Lev indicated that the "metric tons" of material were ordered at the end of the quarter, but wouldn't show up as burn until this quarter. We won't see a 10-Q for this quarter until May.
So, it seems we will know one way or the other about this company long before we see the next 10-Q. They will need more money by March 31. Lev apparently was nonchalant about this and said they would like to sell shares at a higher price reached "without hype." If this pans out, then the company may well be finally on its way. That is IF they give real news to the market (e.g. a major purchase order) to justify a higher price. I don't think more silence will cut it.
At any rate, it looks like the years of uncertainty for investors in this company may finally be coming to an end. By these comments, Lev has put himself into a situation where it is time to put up or shut up. Maybe, finally, they are going to be able to put up.
I hope it works out for you guys this time, regardless of whether I join the party or not.
Disclosure: For those who like to question the motivations behind what I say, I have no financial interest in the stock, long or short. |
