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Two things - first Mr. Snaper told be they are completely done on the R&D including measurement system. I think they will probably look to purchase the machine they have been leasing to start but I am not certain.
Second - I know I was harsh but they only get one chance at this once they roll it out. I hope they fully understand that and have plans to bring in the appropriate staffing and management team. Doing this on a shoestring may get us a quick pps spike at roll-out but it will not be sustainable.
That is the most frustrating thing to me Pony - They should be able to get money. I had investors several years ago but they had already contacted Delisle so they went that direction. Never contacted me again to see if those investors were still interested. At this point they won't touch this with a 10 foot pole. I have people interested in some of Snapers other patents and they could finance CTDT as part of a license agreement. I got told they MAY need bridge funding when they go into production. I had to cancel my trip out there but no follow-up on their part. We discussed funding from some of the investors. No follow-up. No sense of urgency where money and financing may be available. Meanwhile to use VC's words they act like this is a hobby (in terms of the time put in to make it a viable business). It should not and does not need to take this long unless the time commitment (or money) is just not there. It is like they don't want any help and are OK if it takes years. But that is a complete disservice to the shareholders. Every day they slow walk this is another day technology catches up and another day every investor here is losing opportunity. Your money invested in other things five years ago could be quite a large sum. If you had invested that in crypto or marijuana stocks or select other stocks you would be a billionaire today(really). I found the comment from billiam really disturbing. Chas has to go to Vegas today to get the last few items together for the financials - REALLY. Someone should be working on this all day long until it gets done. If you need to be in Los Angeles then make sure you have everything you need to get the job done. There is zero sense of urgency on their part. Snaper is not getting any younger. His hearing is shot and his mobility is failing. I am confident they will finally get this thing rolling but they cannot continue to operate the way they are or they will fail. They need a full-time on-site CEO driving this thing with no excuses allowed. And yes they could find the money for that person if they made it a priority. Sorry for the rant but you asked the question and I am just being honest. I believe in this technology and I have endured the poor management because they are making progress. But the rate of progress is really un-excusable. I believe I am really stating what most here feel. I am a professional business consultant and I have decades of experience managing. Trust me the problem is not the financials. The problem is the fact that they do not run this like a full-time business and that starts with the fundraising (or lack thereof) and carries over into everything they are doing. Bad management or a lack of a plan or execution of said plan leads to problems like financials. I have quit calling Chas because all he does is talk about all the great plans they have and how things are almost done. Not that I don't believe what he is saying is true. His track record says that eventually it will all happen. But I really don't care what they are planning to do at this point. I care about how they plan to manage it. How any hours of management time are we getting a week on CTDT? Once financials are caught up how many hours of management will we get? What does that management look like. What is the plan and who is executing it? How much money do they need? How do they plan to raise it? Even if they have a plan is it still going to take forever to get things done if they do not address staffing issues. I realize that Chas is funding things, working on other things and taking care of an elderly mother. But the answer is to hire competent help to get the job done. Not work on it as you can. We have been told everything works now. If that is true then money is not an issue. And if they needed the financials to close a funding deal then I say it again - they should have had somebody sitting in the office everyday, all day long, working to make sure they were done timely. This company spends less than 1 million a year and probably less than 100 financial transactions within the year. I am sorry but there is no way it takes an accounting office this long unless they are not getting the information they need or they are not getting payment. END OF RANT - but I am sure I speak for all the shareholders here. I am amazed that so many have been as patient as they have. You guys know that I am 100% behind this technology and behind Chas and Snaper, but I will not hesitate to be bluntly honest. If he needs help he needs to make that a priority and figure out a way to make it happen.
Still no Edgar filings showing since the 8K's. But they could be in the process and just not showing yet I suppose.
That is because once the accounting firm stops sucking their thumbs and gets the filings out followed by news from the company this will go on a meteoric rise. It is under the radar or forgotten by most people. With the chill gone along with news of production and what the technology can do this will get traction and buyers. Just 1 million a day for 3 or 4 days will push this up 5 to 10 fold. I applaud all the longs here for their patience. We really are close to seeing that patience rewarded.
Hopefully the accounting firm is not paid hourly -lol
That is cool. I agree that they are not working this full time and that is part of the reason it is moving slow. I guess we just don't define that the same. No problems. A hobby is very different to me than a part time job. I believe you participate in a hobby because you enjoy the activity. You participate in a part-time job to make money. Regardless of how we interpret it the bottom line is they are not full time on this at present. I think we both agree on that are OK with it as long as they are making progress.
Not sure I would call this a hobby. As of the FY 2016 report Chas had already fronted over $150,000 to the company for operations. Delisle had put in over $126,000. They have been given shares for those investments. Snaper does get paid for renting space but many times he has carried that over. For Snaper it is his passion and his legacy. For Chas and Delisle it is an investment. You can rest assured these guys want this to succeed.
Not sure when you got that reply. The audits were finished a few weeks ago. That is the only way they could file the annual reports.
Same thing yesterday. 150 share trade. Someone is trying to suppress price. MM hoping to load up cheap. Short fighting for his position. Jonsmile trying to prove Chas is a liar even though he continues to follow through (albeit slowly).
I wish I could answer you on both counts. I am surprised the 8K's were not out yesterday. I know there is prep time but they have all the data now. PR should wait till that is done. On the investments - They don't seem to be anxious about money right now. I think there are two things going on. 1 - they have the plan to bring the company into production and that is there focus so they won't be looking for bridge funding until they are further down that road. 2 - Everyone (not counting Mr. Snaper) is working in a very part time capacity. Chas does not do this work full-time. He is not a paid CEO (at least not in a salary type capacity right now) so he has other work and responsibilities outside CTDT. I think he works hard to take care of the CTDT work but he cannot ignore some of the other things he has on his plate.
That is correct - but he also owns majority share of the company. Not sure who gets control of that. I also wonder what happens to all his other patents that are just sitting around. Not real concerned about CTDT I am sure they have a plan in place.
I think that Cathy is wife is the only next of kin around. They don't have any children and I am not sure he had any siblings. I have frequently wondered what the disposition of his assets will be upon death. I am sure his wife gets everything. But she is not young either.
The auditor finished the financials but not the reports. They each need to be written and prepared for filing and there at least dozen reports. I don't think it will take weeks for each set but I understand why they all are not done at the same time. I have no idea who is preparing them. I don't know if the auditor is doing that work as well, if the transfer agent is doing them or if they have a securities attorney. Annuals are progress and I expect we will see more of them soon. I hope so.
I am assuming they have initial funding lined up. I discussed potential investors with Chas and he did not seem worried about current operations and start up. He did mention possibly needing bridge funding to keep them running once production started and before revenue caught up with operational expenses. I am sure things are fluid and I expect that much of this report has changed from the time it was due and todays date.
Yes - they have a lot of documents left to do. I think the annuals were the worst though. Hoping at least.
I think they still need to file all of the Quarterlies. So until that is done chill stays. I would assume they will not be far behind. Then I agree - PR.
You can see the reports directly above this post in "news". No need to go somewhere else.
The annual report is up!
Thanks Pony - I have tried to leave him alone so he can work but it is nice to hear something. Hopefully it is next week. At least we know they are close.
When I mentioned it some time ago Mr. Snaper said yes the process allows them to make pretty much any of the allotropes but that was not their primary focus. It did not discount it as a future consideration but the focus was on getting the magnatek process up and running.
Yes that is the Bonanza street address and Alvins warehouse. They have a new (currently undisclosed) location that will be the new company address.
Agreed IT - I think he was excited about the possibilities and workedto keep things afloat. He worked hard to keep filings up and things current. At the same time he was "out there" with some of the stuff he would say. But his intents were good I believe. Too bad he was completely cut off.
Yeah it is too bad that it has taken this long to get here. Mr. Snaper probably won't see a lot of what his patent will yield in the future.
Agreed - he said someone had approached him about doing his biography. I hope he was and is working to get that done.
That is a good description IT! Everyone who has a chance should visit (even if you are allergic to cats) It is worth it.
Also at the time the machines were going to be $350,000 to $500,000 each. Mr. Snaper would have bought the components and actually put the machine together himself (talented guy). That was also before the measurement system was in place. I have no idea what that looks like or what it cost. I don't know if they are still in that range or not.
Mr. Snaper also was personally making the aluminum tubes the carbon was packed in. I am assuming they will find a way to automate that process as well. The size (dimensions) and thickness all played a part in the end product. That was part of the "recipe" he was working on. I assume they have that finalized as well. I think the hope was to have a standard container and adjust the type of stone in terms of size and quality, etc. via the machine settings. I am really looking forward to hearing how they answered all of those questions.
The current building is a warehouse complex that Mr. Snaper owns with a partner. His workshop is there and he has been there for years. I think he is comfortable there. He also uses the warehouse space for personal storage. It was convenient and cheap. They actually did study the feasibility of upgrading that facility. At the time (a few years ago) it would have been at least $500,000.00 just to bring in the power requirements and build a clean room. Not sure what the new space cost but even if it is close to the same dollars wise I am sure it will be better. The $500,000 was minimum to get one machine operational. Any expansion would have been expensive as well. I am glad they have a new location. I am sure that it will save dollars and also represent the company better.
Not sure the answer on this VC - I do know that right now the problem is the stock cannot be traded electronically. That is why most people won't trade it or they charge a substantial upcharge. That will change when they go current. I don't know what they call that. Anything that helps it trade or gets more exposure is good news.
Personally I can understand some people getting their original investment and a little profit when this gets to .50 - 1.00 range (which will happen as soon as PR's go out I believe). But after that you are playing with house money. Let it ride because you could own the house if they get into the chip market.
Nice bid support - 107,000 on the bid now. Highest it has been in a while.
Talked with Chas this evening. Audit is done. I did not want to say anything until I talked with him but I heard it from a few sources prior. He is working with the transfer agent now and they are in the process of getting the EDGAR filings done. He said they could start in a few days but could also be a week or two to get them all done. There are a lot of catch up filings. He shared some other pretty good stuff as well. As others have said - If you have questions call him. He is not always available but he does a pretty good job returning calls. Hopefully this will mean Naval is on board soon and can begin to flow some substantive info to us. The company has a lot of things in the works. As far as rumors I understand the sentiment but confirmation on audit completion from three sources is pretty solid. Of course I could be passing rumors :)
Right on Jaymeinnyc! Great sentiment!!
Yes - any minute is frustrating and I apologize to everyone for sharing that enthusiasm. I actually think everyone believed that including Chas.The accounting firm kept adding request for more info. While they cannot tell me directly the status of a client their wording changed and I believe the audit is finalized. I have not heard that from Chas. I am sure the filings are also a lot of work and I also know that Chas has been dealing with some personal issues so he has not been as available the last week or so. The waiting is excruciating but will be worth it.
Works for me too Ironman - I had problems with it until I upgraded my browser.
LOL - You think the CPA firm would risk its reputation and lie about an audit (an SEC audit no less). Now about that moon landing ...
Jon - I recommend you call AJ Robbins (CPA in Denver). I just called them. You might be shocked to hear what they have to say.
hey guys sorry I have been "absent" so much the last few weeks. I have been dealing with personal issues that have made it difficult to check in. Hopefully I will back here on a daily basis soon. In the meantime thanks for the info from Naval and the solid analysis and confidence displayed by several of you. Heres to news soon!
Jonsmile - just for your edification: https://www.wanderlustworker.com/48-famous-failures-who-will-inspire-you-to-achieve/
Many of the greatest world leaders, business and science people and philanthropist failed on one or more occassions. Learning from failure and gaining that experience is often a stepping stone to great accomplishments. Chas has mentioned on numerous times the problems he had with investment bankers and the shorting of stock. He has learned from that and has been very careful to guard against it with Centaraus. In short he has learned from his mistakes. Based on the careful handling of CTDT stock he has positioned the company to perform very well. I am grateful for that. It is still a risk but one I am much more comfortable taking because he has been diligent in protecting the shareholders.
You and your family made a mistake investing the way you did. I suggest you also learn from it and rather than blaming other people use that knowledge to grow and prosper.
Tearing other people down may give people short term satisfaction but it ultimately destroys the person. On the other hand building people up will ultimately lead to good for all parties.
Thanks Naval - I feel bad that I did not make it out there so I am glad you were able to sit down with them and get some info for everyone. Still working on rescheduling with Chas. If anyone is interested I can post the two patents we are interested in. Amazing technology - Mr. Snaper's mind is unreal.