Nice rebound for a 'weak' stock. So little volume behind the dip down midday, but came up quickly.
The 10Q will be submitted tomorrow (Feb. 10), which is 45 days after the end of the quarter. Not sure if we'll see it online the 10th or 11th (usually the 11th).
Checked with FRB, and Betsy Truax said Lev was out of the country, and they were trying to arrange the time for a conference call to discuss the quarter's results, 'as soon as possible.'
That's a good time to look for some explanation of the increased expenditures we'll see in the 10Q. At the shareholders meeting, Lev mentioned $2.3M for the facility to recover nitrogen and acetone, and over $2M of equipment for the Quality Assurance lab. Lots of materials at the ready, and lots of equipment installed and debugged. This equals lots of man-hours (probably the reason the staffing hit 270 people at one point, as Dennis noted). Then there was the labor, lost time, and money spent re-working the Klockner line ... (only using part of it, now; Lev called it a piece of junk, and said the Arcotronics was much better, and his additional purchases are from them).
This last quarter won't likely show the increased burn rate due to increased production, as Lev told us he wasn't running the lines every day. I would expect the 10Q for the current quarter will tell a different story, but that's 'forward looking'....and we have the hurdle of the next few days non-news. |
