Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Reading you post it occurred to me that perhaps they should get in the PR business instead of the PBR business, but on second thought.
Thanks I have already seen them, and thanks for posting them. Probably just forgot the details on that one.
Can you document that?
They have a lot of depreciation costs from the capital construction of the plants, and a lot of sales and marketing costs that are, and were needed to boost sales once the plant(s) were operational. It is simply a catch up game at first. Same with any start up like this one.
I am impressed with the growth rate in sales. Tells me they might break even in a year or less, instead of many years down the road. Look at how long it took Yahoo and SIRI to ever show an operating profit after they were started. Even Google lost tons of money in its first years.
Thanks for that post. never seen that web site before, nice site.
Strange that one of the most significant major new players in the new battery tech area has such a quite board here.
Anyway, I just read the latest SEC filling on our bright and oh so promising AXPW, and what I see scares the hell out of me. It shows a change to the financials, and in it I just noticed a "NEW" derivative liability on page 2 added as an update to the previous filed report If I read it correctly, a line item listed as derivative liability for $3,995,056. Also the total stockholders equity since Dec 2008 has dropped from $7,923,691 to $42,487, maybe partly due to recognizing the derivative? It is in the last SEC report just filed.
http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=6875289
http://ih.advfn.com/p.php?pid=nmona&cb=1257628430&article=40249483&symbol=NB%5EAXPW
Now maybe they have enough DOE grants (huge grants nearing 80 million dollars total now?) and partners and deals now to weather this, but I suspect they will need to raise cash soon to meet any grant matching fund requirements, meaning more stock to be sold? No telling if the stock price will go up before new shares get issued, but we might see a large pull back in share price afterwards.
I am not sure what to make of it at this point. May need to read to the entire document closer.
I would love to hear others opinions on this.
I went long on this stock back in march-april 2009, but took profits recently in case the stock and market corrected, which they have in part, but this report makes me shy of buying back any time soon. I love the tech, and the company, but it is still loosing money, for now.
We just the no-earnings but losses report here:
Freddie Mac loses $6.3B in 3Q
16 minutes ago
By ALAN ZIBEL
AP Real Estate Writer
(AP:WASHINGTON) Freddie Mac says its losses narrowed to $6.3 billion in the third quarter and the company didn't need a federal cash infusion.
The McLean, Va.-based mortgage finance company has received about $51 billion since it was seized by federal regulators in September 2008, but avoided tapping the government for more aid for the second-straight quarter.
The quarterly loss, which works out to $1.94 per share, includes $1.3 billion in dividends paid to the Treasury Department. It compares with a loss of $25 billion, or $19.44 per share, in the year-ago period.
The results were driven by $7.6 billion in credit losses as the company continued to build its reserves for bad mortgages.
I agree, I think this continuous relentless move down in the stock price in spite of day after day of so called great news, is called a "BEARISH DIVERGENCE". I said here 6 weeks ago, and so did some others that this stock chart showed BEHL heading for .02, and the next wave of stock dumps will send it under .01, IMHO. If .02 falls, the gig is up I think.
Thanks, I actually missed that part of the PR somehow. The "equally" word is the key.
Where did you find this cost sharing?
"Mantra and 3M are on a 50/50 cost sharing"
mention ANYTHING about having a finished product (methanol finally converted to gasoline), these levels will be gone forever.
???? Not sure what your getting at there? There are already all kinds of catalysts and reactors that can convert from one organic compound to the other using various feed stocks. Methanol is a perfectly good product IMHO, at least when compared to CO2, LOL.
It could hold the stock price back, dilute the original good news effect, but that is about it as far I am concerned, still a great stock, great future, etc. I am wondering when they will report earnings?
Here is the Reuters story:
US Sen. Schumer assails Texas wind power project
BY Reuters
— 3:52 PM ET 11/05/2009
* Schumer wants U.S.-made wind turbines used
* Cielo: Project would benefit rural areas, US contractors (Adds Cielo statement, details)
WASHINGTON, Nov 5 (Reuters) - U.S. Senator Charles Schumer called on the Obama administration on Thursday to block the use of any U.S. economic stimulus funds for a wind farm project in West Texas that would use turbines built in China.
"I'm all for investing in clean energy, but we should be investing in the United States, not China," Schumer told reporters. "While the project is anticipated to generate as many as 3,000 jobs in Shenyang, China ... its job impact in the United States would be roughly one-tenth that amount."
He complained the $1.5 billion project could get an injection of about $450 million in funds from Washington. That money would come from $787 billion Congress approved this year to help bring the United States out of an economic recession with funds for domestic construction projects and other activities.
When the project was announced last month at a Washington news conference, backers said commercial banks in China were expected to finance the wind farm.
But Walt Hornaday, president of Cielo Wind Power of Austin, Texas, one of the companies involved, said in a statement on Thursday, "This project will not take place without the planned benefits of the American Recovery and Reinvestment Act (the economic stimulus law)."
Hornaday said the project would benefit rural communities in Texas as well as U.S. engineers, contractors and suppliers.
"Without this incentive, wind projects will wait on the sidelines for energy prices to come back to the levels we saw a few years ago," he added.
Schumer has asked the Department of Energy to refuse funding for the Texas wind farm unless U.S.-made wind turbines were used.
If the agency did not do so, Schumer threatened to take legislative action against economic stimulus funds being used to help foreign manufacturers.
A Department of Energy spokeswoman was not immediately available for comment.
Schumer's initiative came little more than a week before President Barack Obama is scheduled to be in Shanghai and Beijing. His first trip to China aims to improve bilateral relations, including cooperation on ways to reduce carbon pollution blamed for global warming.
The Texas wind farm would have a capacity of 600 megawatts, enough to supply electricity to as many as 180,000 Texas homes. Chinese wind turbine manufacturer A-Power Energy Generation Systems (APWR)
) would combine with U.S. Renewable Energy Group, an asset management firm, and Cielo to carry out the project. (Reporting by Richard Cowan; additional reporting by Leonora Walet in Hong Kong; Editing by Peter Cooney)
Copyright © Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.
Well we got tripped up a little bit here today with US politics. I don't have the news clip handy now (just google it), but it took us from an apx 3% day, down to about -2 something day.
Seems some US Senator is raising hell and asking DOE not to help fund the Texas wind farm if China gets all the wind generator orders and the jobs that creates, saying that stimulus funding should go to create mostly US jobs, not mostly china jobs. Never mind that China was going to fund a lot more of it than the DOE. The Senator probably has family (or lobbyists) that own stock in a US wind generator company no doubt that wants the business, or perhaps he is sincere, who knows, but it will cloud up international trade with a news media field day and generate negative news on that previously good news item for APWR for now.
Here is the article it self. Direct link.
http://www.hartfuel.com/20090901/lemons.html
Self employed, chemical-environmental engineering. Nitch market in Ma and Pop metal finishing area, small business. I do industrial waste water and TCEQ permit work and reports, air water, solid and hazardous waste. Can I get an email addy from you? I don't have paid membership here or I would PM you.
I wonder why CABN does not have a news board showing up here?
I just got news that we have another CEO article (oh, and the stock is on sale again today, 3-6% off, LOL):
FUEL Magazine Publishes "Carbon Dioxide Recycling: Turning Lemons Into Lemonade" Authored by Carbon Sciences' CEO Byron Elton
BY Market Wire
— 07:31 AM ET 11/05/2009
SANTA BARBARA, CA -- (MARKET WIRE) -- 11/05/09 -- Carbon Sciences Inc. (CABN), the developer of a breakthrough technology to recycle carbon dioxide (CO2) emissions into gasoline and other portable fuels, reported today that FUEL magazine published an article written by the company's CEO exploring the benefits of carbon dioxide recycling (CCR) technology and its implications on the world's energy and climate challenges. The article can be viewed here: http://www.hartfuel.com/20090901/lemons.html
"Recycling provides an efficient approach to produce renewable fuels," notes Elton. "It mitigates CO2 emissions and curbs demand for imported oil, enabling energy independence as well as providing the most direct path to produce renewable fuels utilizing existing infrastructure, including supply chain and vehicles to ensure cost-effective and non-disruptive deployment."
Elton offers insight on the challenges and opportunities presented in the use of CO2-to-fuel technology, including the regulations on carbon dioxide emissions that could be cemented as soon as December when the United Nations meets in Copenhagen, Denmark for the Climate Change Summit.
"As regulations to meet international greenhouse gas reduction targets loom, large carbon-emitting facilities around the world are faced with tough and very expensive issues about what to do with their greenhouse gas emissions. If targets are not met, companies will be heavily fined, and eventually the damage to the planet's ecosystems will be irreversible."
Recognizing the significant benefits that CCR can provide, Elton challenges conventional wisdom that says CO2 will be sequestered underground. "Until recently, the main approaches contemplated by large emitters for mitigating CO2 are geologic and ocean storage. These methods, however, have challenges concerning energy requirements and the viability of long-term storage. In addition, the cost of monitoring and leak prevention of the stored CO2 is an ongoing process that leaves uncertain success and currently no commercial deployment."
FUEL magazine is written for refining, transportation and government policy executives as well as analysts, investors and business partners within these industries. It profiles accomplishments and innovation within the energy industry.
About Carbon Sciences Inc. (CABN)
Carbon Sciences Inc. (CABN) is developing a breakthrough technology to recycle carbon dioxide (CO2) emissions into the basic fuel building blocks required to produce gasoline, diesel fuel, jet fuel and other fuels. Innovating at the intersection of chemical engineering and bio-engineering disciplines, we are developing a highly scalable biocatalytic process to meet the fuel needs of the world. Our solution to energy and climate challenges is to enable a sustainable world of fuel consumption and climate stability by recycling CO2 into fuel. For example, Carbon Sciences' (CABN) breakthrough technology can be used to recycle CO2 emitted from fossil fuel power plants into gasoline to run cars and jet fuel to fly aircraft. To learn more about the Company, please visit our website at http://www.carbonsciences.com
Safe Harbor Statement
Matters discussed in this press release contain statements that look forward within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such statements that look forward. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the statements that look forward contained herein, and while expected, there is no guarantee that we will attain the aforementioned anticipated developmental milestones. These statements that look forward are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.
Media Relations Contact:
Christina Brozek
Beckerman Public Relations
201.465.8002
Email Contact
More CABN News
* Power Engineering Spotlights Carbon Sciences' Technology as Alternative to Carbon Capture and Sequestration (CCS)
Market Wire - 07:31 AM ET 10/29/2009
* Carbon Sciences Unveils Video Revealing Secrets of Its Breakthrough CO2-to-Fuel Technology
Market Wire - 07:01 AM ET 10/14/2009
* Carbon Sciences Files Patent Application for Nano-Scale CO2-to-Fuel Reactor
CapIQ - 09:41 AM ET 10/09/2009
Yep, I am just crazy about the news of one Caveat Emptor rated pink sheet (Envirotek) doing a PR on a huge business deal, and also reporting another huge business deal with another Caveat Emptor rated pink sheet stock (BEHL) who is reporting a merger one day, then a month later reporting a different merger (what happened to the old one with a reporting OTCBB company?) with a private company (RWE) that we also know nothing about really because it also does not report audited financials. All I see is BEHL stock price still falling.
Caveat Emptor!
Yep, I am just crazy about the news of one Caveat Emptor rated pink sheet (Envirotek) reporting a huge business deal, and also reporting another huge business deal with another Caveat Emptor rated pink sheet stock (BEHL) who is reporting a merger one day, then a month later reporting a different merger (what happened to the old one with a reporting OTCBB company?) with a private company (RWE) that we know nothing about really because it also does not report audited financials. All I see is BEHL stock price still falling.
Caveat Emptor!
So what were your all's majors?
Mine was Chemical Engineering at U of H.
What did this guy teach? What is specialty?
Just dropped in, real late, I will read the link later, when I get time.
Oh, and I see your in Houston! Cool, so am I!
The only thing I am somewhat expecting is a year end rally like we had the last quarter end, September. We more than doubled going into quad witching options expiration, and quarter end mutual fund window dressing (and hedge fund window dressing) and then Oct 1st the bottom fell out of the price all the way to earnings day. I just hope it gets off its ass and moves somewhere, up down, don't care, but prefer up for sure, as I have puts and calls at $3, and $5, so if it sits trapped at $3.5 I loose on the options, and loose on the 50% drop since mid September. Already made the mistake of holding long the last 2 months, but I bought the longs for the long haul, 2-3 years.
Not unusual for the volume to be low here. It got real low during several periods in the last year. I don't worry about low volume with this one. Probably a good sign. The only thing that scared me was was when we had no news and low volume for about 8 weeks, and then a 1 million share dump one day that spiked us down to .06/share 2 months ago. But I doubled my holdings (closed my eyes and hit the buy button) then 4-6 weeks later we got the patent filing news and the stock ran back up to .19 in about 3 days.
This not your typical flipper penny stock, but a real company with a new game changer tech. We will live or die next with a JV partner announcement and or a late stage DOE grant in the next 12 months. By the way, IIRC they still have another patent pending for making a sheet rock ingediant, calcium + magnesium carbonate (IIRC?), out of CO2 that might find a JV partner someday too.
Got your PM. I will read up on it here and get back to you.
In my opinion they will have trouble making a 20% profit after all the true costs are included. 80% profit simply is not realistic.
Seems to me people here were saying the BEHL system was superior to the RWE system weeks ago, when I suggested that the RWE system looked from the pictures to be far superior to BEHL's system. Now it sounds like from your post below that you and others know agree with me, maybe because of merger news?
"Posted by: drluck Date: Tuesday, November 03, 2009 9:10:33 AM
In reply to: None Post # of 61551 [Send a link via email]
RWE Photobioreactor
RWE PhotobioreactorRWE’s revolutionary large scale bioreactor, the RWE Photobioreactor, is at the heart of the project. This patent pending bioreactor consists of three primary components: a vertical pond, automated process control equipment, and harvesting equipment.
The vertical pond system employed uses 4’ wide by 6’ high by 3’ thick panels designed by our process control engineers to have specific characteristics of light penetration and flow to maximize the algae growth. The panels are vertically situated in a “rack” design to facilitate quick installation with uniquely designed piping headers.
The automation of the system consists of specific instrumentation, valves, algorithms, and control parameters designed by RWE engineers as part of RWE’s patent pending intellectual property. The system design allows for mass production, low cost, and easy assembly. Our unique system circulates the water, nutrients, and CO2 required to grow the algae through the tank and panels. Several instruments in the system monitor pH, temperature, and other control variables. Automated valves react based on the information provided by the instruments to adjust the control parameters, i.e., temperature, nutrient levels and pH balance.
When the algae are ready to harvest, automated valves open and close sending the algae to a prescreen process where the moisture is reduced to ~ 20%. The semi-wet algae is then pumped to a holding tank for pick-up or piped to a final screen, dried further (if necessary) and, finally, to an oil processing plant.
Mass Operational Control / Scalability
RWE has an innovative and efficient method for regulating our system. The entire process is controlled via a computerized system with proprietary software and a proprietary hardware configuration while an “Operator interface” touch screen provides the operator with diagnostics and total control of the process. This graphic interface resides on computers located in the dedicated electrical/operator building per each 10 acres of algae farms. The electrical/operator building houses the electrical equipment to power the algae pumps, instruments, and heating/cooling system, as well as a computer with display allowing us to operate and account for trend/historical information including temperature, pH, and control information.
The Operator Interface allows an individual to select between automatic or manual control of the production process (i.e. open/close valves, turn pumps off & on, perform manual harvests or automatic harvests, etc.). It can also be operated via the Internet with the appropriate pass codes, ensuring that only authorized persons can access the system."
Only one problem, revenue is not profit. Profit is what is left over after depreciation, operation, overhead, consumables, and interest costs are deducted.
"Posted by: tikasun Date: Tuesday, November 03, 2009 12:32:08 PM
In reply to: None Post # of 61548 [Send a link via email]
What does that mean for the P/E ?
Revenue in 1 yr - $6m
Cost - unknown
BEHL O/S = 630m (iBox)
Earnings/sh = $6m/630m = 0.009/sh
PE=15 --> (Factor associated to a Growth Co. )
Market Value of BEHL : 15 x $0.009/shr = $0.13/shr
Since this is a merger and not a part ownership I calculated this on $6m accg to todays PR.
This is absolute wonderful! "
Now that is interesting? Time to connect the dots?
Just curious what you make out of this RWE merger news. Who do you think the survivors will be, management wise? I wonder if RWE realizes what they are getting into, having been a non-public company (possibly wet behind the ears?). I can't help but wonder which company is buying which here?
Does anybody still think the sky is falling here?
Well earnings are out. Stock was up 5.82% today, and up another .20 cents after hours already and climbing! Earnings were .79 cents a share based on diluted shares, now at 78,863,299 shares OS, so EXM stock should make a solid recovery from here. That puts earnings for the last three quarters at $4.03/share (or $3.62 a share adjusted for recent share issue dilution). So the current price is not far from 1 times earnings (ignoring the 4th quarter disaster last year). Even if the BDI goes no higher, this stock looks like a very under priced survivor to me.
Won't be surprised to see it gap up 10 to 15% at the open tomorrow.
If I am reading it right, stock holders equity is up 40% based on cash from the resent stock sales, at $1,400,973,000.
1400973000/78863299= $17.76/share book value for EXM!!!!! Even after the recent stock sale dilution.
Boy Howdy, you can say that again. Like a rocket, blasted off into orbit, and no news except pending investor conference announced. Looks like the bottom and buying opportunity was yesterday. OH, have you heard about Buffet, annpounced this morning he is buying BN raillroad for 44 billion, the Dow Tran index jumped up 5% on that news, and I think set the bottom. Time will tell.
Well my back of the napkin looks more like this. They issued more shares in 2 tranches, IIRC, and increased the total shares outstanding by about 50-70% (apx, or 80%?), I forget, but enough to dilute earnings (or dilute losses). I have access to several reports in my Fidelity account. Some have huge mistakes and contradictions, but Thomas Reutors shows losses for the last 2 quarters, and Market edge shows numbers I recall seeing during the last 2 earnings reports, the last 2 quarters, which is $2.22 1st qtr, and $1.05 2nd qtr, per share earnings last 2 quarters which rallied the stock price, before the new shares were issued, which hurt the stock price. So my knapkin calcs says this quarter might be $3/2/1.7= apx $.88/share if nothing else changed.
No doubt some things changed. So if you ignore last years 4th quarter loss where they wrote down the fleet value of the 2008 merger fleet (they reported a loss of $8.90 a share as a result), then use 2.22 + 1.05 +.88 estimate, divide by 3, and multiply by 4 you have an annual earnings rate for three quarters (ignoring the one time even in 4th quarter of 2008), you get 1.38*4= $5.53/share in earnings average estimate, but that mixes pre and post new share sales, so the calc is more dificult.
So if I take [(2.22+1.05)/2 for 2 quarters]/1.7 for dilution I get .96 per quarter estimate for a 3 quarter period, so .96*4= $3.84/year in earnings (ignore the one time write off of ship asset values in Dec 2008) and figuring for recent stock dilution.
One of my reports shows the EXM book value as $24/share! I doubt includes the recent stock dilution or cash effect of selling stock either, so book value may be more like $9-12/share now? but still way above the current market price.
Don't know if that is before the ship value write down or after, or if includes the cash raised in the recent stock offering.
Right now the biggest problem is the market is in a down trend (inspite a 3 week rally in the BDI!!!) and EXM is in a down trend. I have already needed blood transfusions staying long with EXM this year. I just hope they have a nice earnings surprise this time.
I see earnings estimates from -.05 to +$1.00 for eight analysts estimates on one I am reading(so they have no clue what to expect either, LOL). One report shows 86% and the other 16% institutional holders (so that data is nearly worthless),
Market edge shows the price to book value as .23!!!!!!!!!!!!!!!!!!!!! Buying the stock for 1/4th of book value!!!!!
By the way If I have not already posted this, the BDI futures and spot prices were up smartly, again today at:
http://www.exchange.imarex.com/bdi-futures-closing-prices/category1048.html
What is sad, is that none of the 4 recent research reports at Fidelity from the big shots ( S&P, Reuters, Thomas, and so on, made any note of the2 huge stock issues this summer that nearly double the shares outstanding). Guess they thought it was too trivial?
Well I gues the only real way to get the right answers is to pull up the terribly boring 100 page SEC filings and drill through them for the real numbers.
I am hoping for a nice earnings number like $1.00-1.50, but it may be wishfull thinking.
.02 earnings estimate, are you serious! Why so low?
But thanks for the post. Earnings are tomorrow after market close, right?
Warrants are like call options in some ways. Not an expert myself, but they have an expiration date like options, in this case 2014 IIRC. They have a strike price, or exercise price, in this case they can be traded for stock at a $1.34 (IRRC) if the stock price goes over $1.34 for some period of time (I forget the details on the H warrants, they are in the last SEC filing). The warrants trade for less than the stock price until the stock gets near the strike price, they get over the strike price once near that price. Basically a lot like a call option in most ways.
One difference I think is the conversion cash for converting a warrant goes to COIN. Options the cash is between buyer and seller of the option.
There are three COIN issues trading right now. COINW is the H warrants that were co-issued last month with COIN stock as COINU (one share of stock and one warrant). Some of the COINW warrants have been split and are now trading separately as COINW. The COINW price dropped about 30% today. The COIN stock was down only a little bit today, so the COINU which is one share of COIN plus one share of COINW warrants (type H warrants) was down about 16%, sort of a half and halve averaging thing. The warrants can be converted to stock at about $1.34, so Fridays drop in COIN share price and the near flat price today took a chuck out of the value of the warrants finally, today instead of Friday. We have 2 problems here. One is more stock to go around and not enough new committed long shareholders yet, the other is the market seems to be in a medium term correction down movement.
I have seen COIN make huge upside movements on news, so I will not risk selling this low. Instead I am gathering cash for the next low (where it is) to buy more. This really should be a $2 stock.
Also they will be forced pretty soon to get back up over $1 to keep NASDAQ happy, which they have proved they can do several times this year.
I was real tempted to buy more COINU and COINW today.
I agree, but keep in mind there is no assurance the FRE common stock holders won't be wiped out in a refinancing, re-organization someday like the CIT common stock holders today.
Just dawned on me to check the COINW, it is down 35% today, which is why COINU is down 16%.
There is a fire sale on COINU today. Not sure why, but it looks pretty cheap, and COIN looks to have bottomed, unless the market correction down has not finished. COINU is temping me right now.
You answered your own question, yes it is both. Also it might spook some trading investors as FRE is at risk of a total loss to common stock holders just as CIT was. Risk by association. But mainly the market and financials. They tend to move together. Also it will attract more traders tomorrow.
Don't misunderstand, I am still long on FRE, but I am playing both sides now as I expect huge increased volatility in the price this week, and just wanted share my thoughts.
For some it would or will be a buying opportunity. For others, if I am right they will know what is happening ahead of time, and maybe not get as spooked as they would other wise.
Heads up folks! CIT just filed for bankruptcy. Good chance (IMHO) that FRE will take a hit in the morning and the rest of the market will open way down on this news as well, considering how jittery the market already is based on last week.
http://www.reuters.com/article/BANKSL/idUSN0140886320091101
Here is my thinking. TARP had put money into CIT earlier this year, but now the news says TARP will loose that money, and the government let CIT go under with out more help. CIT Common will be wiped out. So some FRE longs may get spooked tomorrow, like they have in recent weeks, and sell. And the market will most like take a huge hit down too, which will drag FRE down. I will be shopping for cheap calls tomorrow and looking to sell my $1 puts if we drop hard and fast tomorrow.
For now I will keep my longs position and play this with options.
Good luck tomorrow people!
I recall one reactor process we studied where the initial start up conditions affected the product yield as the process reached steady state conditions. There were two possible yields depending on those initial conditions, 10% and 90% yield (% of product produced from the reactants).
But to answer your question, there is no way for us, or me to know. And depending on the reactor design, reaction catalyst and process he is using there may be no way for him to know for sure until he has run many tiresome repeated trials. At this point we would need to take any official press releases he has issued at face value (trust me, LOL!), and possibly with a grain of salt.
I am still way too new here to this stock, and still looking for others here to help fill me in on many details, to make any final judgement on this company so don't read too much into this. I am just trying to clarify a topic I know something about.
Does anyone know how he came up with the catalyst?