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PSON files 2013 10K:

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236T568 Member Level  Friday, 04/11/14 02:20:31 PM
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PSON files 2013 10K:

$0 Revenues

$2.6 million Net Loss


and this is the clincher, after 2 years of this nonsense, it turns out that it is not clear that the process can be commercialized. They are still in the lab simulation stage:

We completed the section of the Albanian facility dedicated to the sonication process during the first quarter of 2014. We expect to begin generating revenues during 2014 from utilizing the sonication technology. In September 2013 the engineering firm, Gas Liquids Engineering of Calgary, completed sonication tests in its Richmond, British Columbia facility. The results have been sent to a third party lab, Maxxam, located in Calgary, for separation and solvent recovery lab simulation. The results will be used to finalize the engineering and estimates of the asphaltene separation and solvent recovery equipment.

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