No need to wait!
The odds heavily favor "the parties need additional time to negotiate and finalize a definitive agreement and to address zoning and permitting at the proposed site".
OR...
"we couldn't get the approvals for the zoning but we reached an agreement"
OR...
"we couldn't reached an agreement even though we got (and probably paid for) the zoning permits."
OR...
people really DO need to wait. Because "even though the MOU expires today we really don't need to say anything for 4 days...if you ask some people we don't have to say anything EVER."
Was there an 8-K issued on the date that the EcoNav agreement expired (2/4/16)? What do you think? How long after it expired do you think it was before we found out?
I checked. Some weeks later (3/8/16) the news came in a Dear P2O Shareholder letter:
"Over the next few weeks, we will be sharing important information with you regarding the sales and marketing program that we intend to launch. Our efforts will include direct sales as well as a new partnership. To that end, we made the decision not to further extend our agreement with EcoNavigation as their firm has been unable to conclude processor sales via acceptable terms."
I'm looking for a shareholder who can tell me about the important information regarding the "sales and marketing program that we intend to launch" that was shared in the few weeks that followed that statement. Or the "new partnership". Know anybody that can help me with that?
I have the feeling that CEO Heddle has by now been to the local Staples and picked himself up a stamp:
"To that end, we made the decision not to further extend our agreement with ____________ as their firm has been unable to conclude processor sales via acceptable terms."
Except in this case it seems we'll never know the name of the company and the blank will be filled in as Some Southern Company.
It's funny to me, but I know it's not funny to everybody. Maybe next time.
I was given that information....I don't know.
