Brian,
You are wise to not believe anything until you see it in print, and then even after that, it's best to remain skeptical until you can independently verify the information through sources not connected to the company.
FWIW, I was one of the people who attended one of the trade shows. Granted, it was before they had the finished model to show to prospective clients, but I saw a proto-type and grilled the CEO enough to feel comfortable that he genuinely knew what he was talking about. The salesmen attempted to occupy my time but I asked pointed and directed questions that they were not able to provide me with satisfactory responses, which this is why I ended up speaking directly with the CEO. Having been employed in Florida as an Environmental consultant, I felt comfortable with the responses he gave me on the goals of the company and the regulations as he knew them in Florida. He also then told me the differences between Florida and the New York area (to which I was unfamiliar with - the specific regulations, where I believe he spent most of his professional career).
I was disappointed in that they did not have the actual product for me to view, as I had hoped. However, using the proto-type as an example, he (the CEO) was able to describe in full detail the changes that were going to be implemented to better the product. I understand from continued reading and following of the thread, additional modifications have been made since. This is unfortunate as improvements can always be made on a product and their window of opportunity is diminishing. What I mean by window of opportunity is that it is Federally mandated that all UST's (underground storage tanks) be in compliance by the year 1999, and many have already met this requirement, and the owners will be resistant to additional costs. However, I still think this product is viable and quite believable. Did they maybe miss a huge bonanza, IMO, yes, but they can still show steady growth as UST's are always in need of monitoring.
BTW... go to the first posts on this thread and you will see that I was a major contributor to the economic pitfalls of this industry. With the less than stellar performances of most environmental companies in the past few years, it's something that EVDS is even still in business, which shows that they are committed and believe in their product. They do have some talented people on staff.
Has this taken longer than any one thought, sure... and I'd wager that Jeff would even agree to this statement. But, if it's still some time before they're ready to gear up for production, I would expect the price to drop some more. If this happens, I will buy up some more shares.
Anxious to hear from the company... |
