Here is the release. Looks like holding is a wise move. I'll paste the release, but will highlight what I believe are the most significant information, in addition I might have an answer concerning the possible need for cash.
It is apparent that FOCS holds vital patents. If you notice in the release the company speaks of joint developments off their technology platform. This is extremely good news, knowing a fair amount of patent law, in effect what they are saying is they own the land and will be recieving (most likely subtaintial) benifets from the companies which HAVE DECIDED to use it. What does this have to do with cash flow? Good Patents can be extemely expensive to prosecute and If a company goes it alone there is alot of risk amd initial cash outlay. The payoffs however can be astronomical. The language used cleary indicates a substainal consortium of companies have concluded they need and want FOCS technology. But even more importantly, the companies have determined that FOCS is the righful patent holder. This folks, equates into $$$ and credibility.
, March 19 -- FiberChem, Inc.
(BB: FOCS), through its wholly-owned subsidiary FCI
Environmental, Inc. (FCI), announced that it has signed a contract with IWACO
BV, a leading European environmental consultant REPRESENTING a CONSORTIUM of
OIL COMPANIES AND RELATED PARTIES operating in the Port of Rotterdam area and
elsewhere in Holland.
The CONSORTIUM WAS ESTABLISHED to evaluate the availability of remediation
and monitoring technologies for ITS OWN use. The consortium's EVALUATION of
FCI'S EXISTING products indicated that these products exceeded the published
specifications. This led to the SELECTION OF FCI's TECHNOLOGY as the BASIS
for development of improved sensors for pollutants of interest to the
consortium AND to the development AND commercialization of a device to monitor
trichloroethylene. THESE developments could lead to a new market for FCI's
technology.
Geoff Hewitt, Chairman and Chief Executive Officer, said, "We have been
working with this group on an informal basis for about TWO years while the
FUNDING mechanisms were put into place for the full program. AT THE CONCLUSION of the 20-month development phase, expected to be worth over
$150,000 to FCI, WE EXPECT THAT EACH of the ten collaborators WILL commit to
purchase SIGNIFICANT quantities of the productS developed under this contract.
At the same time, we believe that there is a WORLD market for these NEW
products, especially, for trichloroethylene, which is a widespread
carcinogenic pollutant of groundwater."
On an unrelated note, Hewitt also said that FCI had recently received an
order from a Gulf of Mexico gas producer for FCI's portable units to equip ALL
of that company's platforms in the region. These new sales are indicative
that the Company's marketing strategy in the Gulf of Mexico is beginning to be
realized. Two OTHER orders were also received from NEW contacts in the GulF. |
