JJB, I admire you for posting things like this (from the NASDAQ memo):
"One of the more interesting aspects of the Company's description of its plant and the processes in the Form
10-K for the fiscal year ending June 30, 1996, was an emphasis on new technologies and the possibility of
licensing its bitumen recovery process. In addition, the Company was planning to develop different approaches
to recovering industrial metals from the tailings. The staff considered these claims questionable because, in the
case of bitumen recovery, the unique qualities of these new process could easily be duplicated by the current
producers, or, in the case of the metals extraction from the tailings, were merely laboratory procedures, which
could be duplicated, but as yet had no economic significance. The staff got the impression that one of the
Company's implicit aims was to seek ways to approach a process differently and to avoid building upon
methods that others were using with commercial success. And yet, the Company had abandoned material
aspects of its patented process for recovering bitumen in favor of methods currently being used by commercial
producers." |
