Syd,
I'm on the road having lunch at one of these "atomic-cafe" coffee cyberlounges. Kinda spiffy... :0)
I see that the stock has only traded 12,000 shares so far today.
If people are concerned by the earnings that the company released yesterday, then so much more for us who look at this stock as a buying opportunity at these prices.
Since the company had practically no revenue over the past 18 months while it was awaiting approval on its relocation to the Allied Terminals location, a loss was expected. However, I am still positive that the GRNO will show positive earnings in the 1st quarter based solely on its deal for the Model #200 for Ardmore and its Spanish client. It doesn't take much to make this stock profitable since it has so much equity tied up in its already amortized equipment. It will plan on reclaiming its investment on this and this should greatly enhance profit margins for its first several units.
Also, the fact that Unit #1 is already paid for, minus reassembly costs, its partial sale to the limited partnership will generate additional revenue for the company via sales of the partnership unit sales which I understand are still ongoing. If GRNO sold 100% of its partnership units, which I don't believe it plans to do, that would mean 1,500,000 in revenue, minus the costs of reassembly, (probably 2-300,000, though I'm completely guessing on this figure).
The sale of all GRNO processor units will be made on the basis of progress payments so that the company can continue to husband it cash resources.
The next couple of months should be rather interesting both operationally and monetarily.
Regards,
Ron |
