From the latest 10Q:
Subsequent to the three-month period ended March 31, 2007, the Company announced that LRM had procured its initial commercial production orders, and LRM expected to commence production activities in May 2007
Note that the company never responded adequately to my question regarding a revenue forecast for 2007. Below is a post I made on another board:
Question.
In the 10K filed a couple of weeks ago, they stated the following:
"Additionally, the Company had reported, in a Chairman's Letter to Shareholders issued during July 2006, a projection of $22 million in LRM revenues for the year ended December 31, 2007. This forecast was revised downward during the first quarter of 2007, primarily due to a commercialization startup date which was moved forward to allow for installation of additional significant enhancements to the new production line, which was installed and commissioned during the fiscal year ended December 31, 2006."
I e-mailed the company and asked about the downward revision. I haven't seen it documented anywhere. I got the following response back from George E. Kazantzis, President/COO:
"Please be kind to refer to chairman's letter's dated March 20, 2006 and July 24, 2006. I hope it answers your question."
I e-mailed him back saying I didn't see how the chairman letter's from 2006 would answer a question I had for something that happened in Q1 of 2007, but he never responded.
Does ANYONE know what 2007 revenue was revised downward to? Did I miss it somewhere?
Thanks.
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