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Alias Born | 02/10/2016 |
Friday, April 29, 2016 8:05:41 AM
I believe, and some longs agree with me on this, that Jim Nelson has an obligation to his shareholders to justify the numerous bullish statements he made related to the cell. For instance, he said two years ago they were in discussions with multiple manufacturing partners and were ready to commercialize the cell. It didn't happen and he has offered nothing but evasive answers since then, though constantly hinting at things that never come true. Most recently I remember him saying they were going to bring someone on full time to work on the cell and that we could expect some good news from Asia, those statements were a few conference calls ago and haven't been updated. When people dare to have the audacity to question this, they are generally met by a barrage of criticism in what seems to be an attempt to create a consensus that everybody is ok with this. I have been following this for a year, and I can say definitively this is not true, there is a long list of investors who wisened up to the game that is being played and have moved on.
I have heard some say it's because he is limited in what he is allowed to talk about, but that argument falls flat on it's face with a cursory look at the news history and website. Jim talked up the cell constantly every chance he got for as long as he could, only when it was time to actually show the world what it was he had been hyping for so long did he suddenly start active evasive and quiet. At the critical juncture when he had the opportunity to show that this company was different and the cell wasn't just talk, they stopped even talking. This falls in line with the history of the other companies run by these same guys in Santa Barbara. Check out the news history for CABN, HYSR, BSRC etc, lot's of hype that doesn't even come close to coming true.
The recent news is that patent office just rejected the application and cited some very fundamental flaws that any objective observer would say calls into question the seriousness of the effort, with less than $1,000,000 being invested in R&D over the course of several years. The effort was never given serious financial consideration. This was the first, after over five years, third party report related to the cell. Thus far (and today is the deadline) the company has yet to even attempt to respond to the concerns raised by the patent examiner. One of the concerns which caused the patent to fail was a grammar mistake that caused an aspect of the invention to be described inaccurately.
The cell never did pass the common sense test though which is simply "With companies around the world using world class scientists, advanced labs and cumulatively billions of dollars to improve solar technolgy, how can one part time Consultant and his Post-Doc change the economics of solar for less than $1M?"
Critical thinking should never be confused for crying.
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