I have been a shareholder for a bit now and have a substantial amount invested. I'd like to share my background and make a few observations. I worked at two hedge funds and an investment management firm and am a Chartered Financial Analyst, so I have been somewhat of an investment professional. I will say that although I have not worked an extremely long time in the industry, this company has the potential to be the single most lucrative opportunity in the market today. I am trying to avoid hyperbole here, but it would be POSSIBLE one day for this company to be 1000x larger if everything goes very well - those type of opportunities you just do not see, but given the world class management, the efficacy of Excelyte as an H2S eliminator and the fact that for some reason this is publicly traded (more on my thoughts below) it gives the perfect "set up" for this type of scenario, though it must be noted it is extremely difficult to do so. There is also a built in margin of safety in the investment - this product addresses an $80B market opportunity that is a treatment to the cancer of the oil and gas world - is this company in its current state worth more to someone else than the ~$18-20MM it trades for even if they were unable to get funding and had to sell (something I find EXTREMELY unlikely) absolutely.
This stock has the potential to also jump on the mania of other's opinions of it, something that you should not count on but could benefit from. Let's take a look at Theranos before all of this "it might not be a real company" problem they are experiencing. Theranos addresses a $60B end market with two major entrenched competitors Lab Corp and Quest Diagnostics, with a combined market cap of ~$25B. Theranos was valued at $9B based on the opportunity to come in an "disrupt" the market.
IEVM isn't run by an interesting character in silicon valley but some old (world class) white dudes from South Carolina with experience of running and overseeing successful companies and an accomplished board (LaVance is also a partner in an angel investment firm). Theranos was and remains grossly overvalued but if that kind of mania takes over this search for yield going on, you can see what is possible. The main risks are continued dilution and competition ramping up or a mismanagement of growth and financing; I think IEVM might be very close to breakeven - there has been no dilution since the 1Q and it seems this $225K of financing could be a hold over because they think they are very close since 9/30 given new supply agreement and depot. I will make one last point but I really welcome the thoughts and opinions of others here - especially on why this won't work or where I am incorrect.
Last point - why I think this is publicly traded (it is sure an odd opportunity). I think Wayne Kinsey invented this chemical/process and spun it out into its own company because he saw the opportunity. When Benchmark rolled up into Rockwater energy solutions (owned by scf partners) it looks like he sold Excelyte to IEVM and owns a majority of the company. Given VC or PE ownership he would face either massive dilution or be forced to accept a sale that could be less than desirable - If a PE/VC firm made 10x on this they would be ecstatic, but the fact they can grow on their own terms, own a majority of the company and minimize all dilution by issuing small amounts of equity as needed could be the reason this is public
