Your summary of the meeting was excellent- (sorry I do not have PM)
Personally, I had some questions answered and was reassured about a few other points that were unclear, so I am glad to have made the trek.
I enjoyed meeting you and the doctors and some of the other principles, including their architect. In particular, Dr Diwan and Dr Bodniuk impressed me quite a bit. Texas meets M.I.T. !!!
We'll see where this goes. I remain cautiously optimistic for the long run. At the same time, I definitely feel the pain of those who have been waiting and waiting for years. I left feeling that this company just doesn't quite fit the mold, mainly because the technology doesn't have broad acceptance yet, and the regulatory process is so slow and based on old models. So mid-term traders are likely to park elsewhere for now.
I sense that the start-up challenges are just going to be there, no matter what. However, once the first 'cide' gets out and the first floodgate of income generation opens, this will be a different story. And I know people are tired of hearing this but that feels definitely more like a WHEN than an IF.
The fact that they have increased their technical (engineering) staff from 15 to 25 in the last year is a good sign, given the rarity of such people and the competition for their skills. The bottlenecks in getting the Sheldon plant on line have been frustrated by forces that are going to continue to be frustrating into the future- equipment providers, personnel, training, and regulatory approvals. This is the nature of a radically new breakthrough coming to light.
Bodniuk's insistence on careful planning and long term focus feels healthy, even if it has to be tweaked a little. I am not sure everyone is as enthusiastic about Houston as he is. But you gotta like BIG thinking and his level of success tends to breed success. This could all come together in a very BIG way.
Altogether, another adventure in science, investment and learning. I will likely keep adding as funds become available.
