Renewable
Let's not get too loose with the facts here.
1) MS and ECOS have never been probed by the SEC. There was no such disclosure ever made by MS, ECOS or the SEC. If such an investigation was ever conducted MS would have had an obligation to disclose. The only regulatory action was the FINRA investigation which revolved around selling convertible debt to a firm controlled by an individual/firm.
2) As to M Fuel and D-20 the problem is there are mandates to reduce diesel emissions. Trucks, rail, power plants ad ships have all adopted versions of urea after treatment or similar technologies. That market is growing at over 30% per year, but since they have a solution adopted by regulators in the EU, Canada and the US these markets are not going to be ECOS markets.
3) I think the waste recycling business has potential. The push for this technology needs to come from regulatory change. The diesel market found and adopted urea after treatment when regulators leaned on them and enforced standards. If regulators push waste recycling it will get some traction. This is more likely a European play first as EU regulators have already looked at this space.
As with respect to MS. He is at heart a decent person. He has aspirations, but lacks focus. I don't think he is a leader of a public company.
