Scott, your scenario is not one I am in a position to accept. I still believe in the concept and in the GRNO story as I understand it. I still say the story is far from over and we are just at a low point right now. I can't say I like the situation and it is completely unlike what I thought I was investing in, but there still is value there, especially in the technology. While that is true for many a BB stock; that is, the technology is valuable but the company is run into the ground anyway, I say GRNO is far from "run into the ground" and just needs more time to work out its problems.
How much time, you ask? Well, there are developments behind the scenes such as the AMBIX and Manova activities. We know that AMBIX needs to be up and running by June 30 to qualify for tax credits. Far too late to get the long lead items, prepare the site, and build the plant by June 30, you say? While it may sound unrealistic, I prefer to wait for June 30 to make that determination. We are dealing in two time scale realities here. We have the government permit time scale, that is no incentives to act, and we have private initiative. A vigorous entrepreneur might decide to do things in parallel rather than wait and do things in series by waiting for government to act before proceeding on his own.
Mike Flynn, how am I doing so far in the philosophy department?
We have a news release saying that if Manova can get some sort of tax exemption from the Turkish parliament, they will have a very profitable deal and intend to order as many as 3 plants over 4 years. I say that they have until approximately until July 1 to get the exemption because that will be when the parliament is scheduled to adjourn for its summer recess.
Message 4239199
So from the above, we see that in July we will have a better view of the situation than we do now. If their parliament is anything like our legislative process, the ruling group would slip the exemption into a last minute piece of pork just before the parliament is about to recess.
On the subject of DHEC, I contend that DHEC is a large part of GRNO's problem because it refuses to permit the demonstration plant to run at its design level, thereby demonstrating that it is capable of reliable operation. The DHEC situation was presented by Norm Hostetler and in his post he said the DHEC engineer doing the permitting work stated that GRNO might have its permit in July.
Brown stated that, assuming no relevant adverse commentary
(as was the case last year), the permit can still be issued by sometime in July.
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So how much time am I allowing GRNO to prove its case? I am saying July, and further, I am saying that there could be other developments by that time as well. At least I am hoping there will be. If I was running GRNO there sure as h*** would be.
Mike Flynn, we had a series of votes before and after the Manova announcement so that I could see the mood change with the announcement, such as it was. We still await the announcement of the firm AMBIX order. Who is to say the lawyer isn't sitting on it? After all, it took almost two weeks for the Manova info to be published. It couldn't hurt to have another vote. Please go to
stockmaster.com
Scroll to the bottom and vote on how you feel about GRNO's prospects for the next 3
months.
Charles |
