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To say the least! He was actually a fairly bright and genuine guy who clearly cared for both this fledgling start up as well as the shareholders. Always answered his phone and did his best to address concerns. He apparently took issue with Chas' involvement in the company and was thus shown the door.
Trader,
I've said it before and will say it again. His history says it all and should not be disregarded. He is not the shareholder's advocate. He is out to make a buck, most likely at our expense, IMO.
bizops,
Unfortunately, I share your concerns with regards to a Radovich-run Centaurus. Other than for updated filing, he has done nothing to advance the company. We are no closer to diamond production now than a year ago. I have discussed this with Snapper who has said little to convince me otherwise. I sense Radovich knows little about diamond manufacturing which is problematic given that he now runs the company. His history with Cobalis raises huge red flags. Although I continue to maintain a small position, I sense that CTDT may evolve into a P & D. My recommendation is to invest here only what you can afford to lose.
Thanks again for taking the time to look and report.
10K filed yesterday after hours. Seems promising, at least in the near term.
Thanks for taking the time to look and post. Not encouraging but still much appreciated.
Good news or bad, I appreciate the updates.
Candid post. Your moral unfortunately rings true with a number of us here!
I understand your skepticism as this business model is far from proven. The premise is that any company looking to purchase processors will already have substantial annual corporate costs relating to plastics disposal. For the sake of discussion (clearly speculation on my part), plastics disposal runs $333K/yr for this company. This company over 3 years will spend $1,000,000 accordingly. A PTOI (P3) processor purchased at $1,000,000 will pay for itself in 3 years NOT including the added benefit of the output fuel. After 3 years, the annual savings are fully appreciated. Sounds great in theory. I do understand why questions arise with this scenario. The processors have never proven they can withstand production runs beyond weeks, let alone years. That is why I would not bet the farm here. But I also appreciate that any sales would accordingly mobilize capable engineering support (OBG) which may make the difference. This is a plausible business model and worth a small bet in my view.
That's not my quote. You should direct your questions accordingly. I again am not privy to Heddle's negotiations. Call the company.
That scenario would not arise given the how JB's initial, ill-fated business model played out. The new model (as I see it) would attract institutions/organizations in which plastics disposal is paramount. These would be entities who are currently tasked with disposing of their large scale plastics either through landfills or "other" technologies/approaches. They would be targeting disposal cost savings not fuel production profits utilizing PTOI.
"Negotiations" is a broad, vague term which likely included many facets to the new business model including support infrastructure. You, like I, were never privy to those corporate discussions so it's not worth even trying to guess what was said behind those closed doors. Impending, conditional processor sales were only announced this year. It has not been long in that sense. Why the anxiety? SP remains stable with only small volume trading on hand. No one is losing money now so relax. If processor sales are consecrated, we all could benefit. 2 months to go.
We've also discussed this before. The new business model is no longer based upon fuel revenues but instead, on costs savings related to large scale plastics disposal. These savings will be appreciated through decreased tipping / landfill fees as well as diminished/absent plastics transportation and hauling costs. There is also a potential PR benefit to any outfit attempting to be more environmentally conscious (more esoteric value). Not sure how that may play out but it seems worth mentioning.
Should anyone expect Heddle to sell processors over night without engineering, financial, or sales infrastructure in support? We need to be realistic. Two years really isn't that long in the grand scheme of things and certainly, when given Heddle's starting point. Answers should be forthcoming soon, one way or another.
We've gone over this before. Cost savings associated with large scale plastics disposal is the impetus for processor sales. The fuel output (and its potential sale) is essentially a bonus.
I guess it comes down to perspective. Heddle did not inherit AAPL and did not have much in the way company finances behind him. Very difficult to optimize SP financing denomination under those circumstances, as we know. In fact, the share price stability over the past year is (in a sense)) impressive given the interval dilution. The other CEO's were all focused on fuel production revenue which was not suitable then and is even less realistic now. By attempting to monetize processors, I think Heddle has performed reasonably if not admirably given the circumstances and when compared to earlier company directors. Remember, no other CEO's have ever sold processors or actually made money for the company. Ultimately, he'll be more accurately judged in 2 months. I can wait.
jaxstraw,
Your assessment of Heddle's performance seems a little short sighted to me. PTOI was anything but a functional, fiscally established enterprise upon his arrival. I give him credit for a complete revision of the business model and his efforts to promote processor sales. He clearly has slowed much of the financial hemorrhaging and has limited share dilution. Generally "scam" CEO's are relatively happy to do both, often in short order. I think he has a legitimate, non-nefarious plan going forward and has raised very few "red flags" on his tenure. Although far from a sure thing, I remain cautiously optimistic and hope for some confirmation within 8 weeks. By the way, PTOI's share price has been stable over the past year which is significantly better than on the previous CEO's watch.
Helpful review. Thanks.
Appreciate the update. Thanks.
The Magnatec process clearly works. It's the company that does not. Look at the new management team and their credentials. These people know nothing about diamond manufacturing and IMO have their own agenda. Chas Radovich has no business directing a public company with his past history. Cobalis is only the tip of the iceberg. Without LT, CTDT can't function or file despite absent developments and revenue. Aside from an anticipated transient SP spike, I see nothing really positive on the horizon. FWIW, the company does not even own the Magnatecs. They were leasing them until the funding ran out.
At this point, I hold little hope that CTDT will evolve into a viable, functional business. More likely, this will become a Pump and Dump play once the late filings are submitted. I suspect the AS may be mobilized to maximize the director's profits. Some of Snapper's 144 shares may surface as well. IMO, it's a virtual certainty this scenario will play out given the history associated with Radovich. There is no other plausible reason for his involvement in CTDT. The key is to watch for filings and to cash out expeditiously. Any SP appreciation will certainly be short-lived.
I think you may be too optimistic although I hope you're right. My concerns still center on Chas Radovich who just doesn't go away. He brings nothing to the company other than an SEC rap Sheet. No expertise with anything other than failed companies. I would feel much better about things if Leroy or Snapper were to dismiss him.
Chas Radovich's continued involvement in Centaurus is a huge "red flag" as far as I'm concerned. I'm honestly preparing for a pump and dump scenario. It seems a virtual certainty, IMO. I maintain my small position for this very reason. The key, of course, is to not be greedy. We should all have clear exit strategies once the inevitable SP spike begins. Any SP rise, I expect, will be short lived.
4k,
I very much welcome your honest projections and rationale for the company going forward. I look forward to your posts. Although I may not always appreciate the daily trading patterns and signals routinely discussed, you consistently support your opinion with real world, current facts/analyticals. Much of the banter recently (both pro and con) has been focused on developments, PR's, projections dating back years. Those discussions, IMO, are becoming tiresome and less relevant by the hour. I know I'm not alone in appreciating your positive contribution to this forum.
Not sure of JB's relevance to today's PTOI and the new business model. His tenure is of perpetual interest to some but IMO, any real significance here hinges on what evolves from the EcoNavigation deal. We too often lose track of that which detracts from the overall discussion.
Nobody asked........just my opinion.
An SEC filed 8K is great news, IMO. Somebody certainly appreciated this given the morning buying frenzy (of sorts).
With such little info available re: EcoNavigation, I can only characterize this as a hunch. I do think they'll prove legitimate and will function as a 3rd party facilitator coordinating processor sales and financing. I make this assumption only because I feel Heddle to be credible, despite a few unfulfilled promises. It's a "leap of faith" of sorts but to me, worth the risk. I don't see the same red flags orbiting RH as with JB.
It's a good question that may be person specific. There is a paucity of information available on EcoNavigation, as we know. Given my relatively modest investment, I'm content to limit the extent of my research to web based review for now. I would not, admittedly, consider a large financial commitment based upon the currently available information. I have known others to aggressively investigate utilizing PI services. That's beyond where I generally go!
Good post. Nice perspective on the pilot.
As per the 8K, they have 3 years to purchase at least 6 processors. The contract doesn't specify initial purchase timeframe.
I agree. I can also wait 3 months to see.
I would think the company would target environments in which their processors would be of value. It's good for business longitudinally. Pyrolysis processors on a dairy farm would do little (IMO) to encourage future sales.
Understood. Speculation on my part.
I have discussed this before so I will simply attach my earlier post from 1/31/15. Hopefully this helps.
Apparently JB miscalculated or misrepresented the potential cost savings when utilizing "his" catalyst. I think there was plenty of both. To my knowledge, all pyrolysis processes requires a catalyst. I doubt that JB's catalyst is truly revolutionary. What is notable, however, is the new focus on plastics disposal costs savings vs. fuel production revenue. This changes things significantly. The catalyst and fuel production efficiency is less relevant to this discussion.
On the surface, you might think so. In reality, the terms of the negotiated Rock-Tenn contract were (from then JBII's perspective) financially burdensome and one sided. It was a bad deal forcing JBII to incur all the risks and costs. The EcoNavigation deal is structured upon processor sales, not fuel sales. That's a huge difference which, in effect, is a game changer.
I agree that company behavior and leadership are clearly relevant to the discussion. I, like many, had lost faith in JB's business model, leadership, and integrity. RH remains an "unknown quantity" although I see no reason to question his intent or direction, at this point. I can find no red flags with regards to his history which, in fact, is quite impressive. I do not see him disposing of his shares nor initiating dilution. He has asked for 3 months to complete a processor sale. Given my relatively small position, I'll wait comfortably. If the company fails us again, the SP revisits $0.05 and I'll lose a few hundred dollars. With an actual sale, my position's net worth will appreciate by orders of magnitude. I see this as a worthwhile risk with at least some chance of success. Time will tell.
You're right. That was a bad plan with bad management. A fuel production plant in Niagra, NY was not economically viable given that the fuel was produced at a net loss. Things have changed significantly since Rock-Tenn. The focus on monetizing the processors and the ascent of RH constitute meaningful change. I can wait 3 months for things to declare themselves.
Because fuel production profitability matters much less with the focus on large scale plastics disposal. I've gone over this previously.
You make a valid point. I still maintain that PTOI is now on the right track and may succeed. We won't have to wait long to see.