"To date we have not entered into any formal commercial supply agreements, joint ventures, or licensing agreements."(September 23, 2016)
"We expect to commence generating revenues from the production of materials at the San Marcos facility in early 2017. Such revenues are expected to be modest at first and will be dependent upon our ability to generate purchase orders from development partners."
NItto revenue was clearly dots given for development of a product, not revenue from production of materials. The other small revenue seems to be from the oil and gas development.
Not sure why some of you think we will be seeing anything different in the next 10Q unless something changes between now and then. They clearly stated they are hoping to generate revenues early 2017 and are still not in any arrangement for sales.
Hopefully, the money raised last year covers the rent, salaries, and $275,000 in royalties due in the the next 9 months. More importantly, hopefully, for the first time ever, they are accurate about their estimate for modest revenues (has that phrase been in there for two years or more/less?)
