It has been really hard to dig up much information.
My thoughts in general is that this whole collapse has happened very quickly with the real meltdown just happening last fall as the company was ramping up India and finishing the Argentina job.
It could be that finally , between the India sales, the finishing of the Argentina project they finally reached critical mass and are large enough and have the capability of taking it to the next level. Remember this company has grown from 800k to 1.7 million to 2.9 million (for 9 months), probably close 2015 at 4 million plus.
In addition the mobilemill could add up sales quickly as a high cost item and they were due to be in production late last year.
Oil prices started firming some and this is helpful. My guess is that we should know something soon. The company was fully reporting up until the end of March and is now late on filing both the statements and the 8-ks.
We do know that it could not go on much longer the way it was and its actually good conversions are down as that would make any potential turnaround value go away for existing shareholders, even us .0001s.
There are a lot of moving pieces here. There is the Indiana loan, the Line of Credit, the convertible notes and then there is cash flow to do the work and the nature of how things will work with the India operation and reporting. One hold up in the financials might be a new auditor and substantial operations in India and the reporting necessary.
By the end of summer I think we know one way or another.
