John,
I didn't do a good DD on it as yet, so I can't say too much. The positive part is that with the explosion of organic food market, the ozone machines will be in high demand. In the old days (early 80's), my team has designed some ozone machines for industrial water purification, and the machines prove to be very efficacious, cost effective, and compared to other techniques ozonification indeed does a better job in destroying the bacteria, as well as most poisonous heavy metals.
So, I like their line of business, but did not buy anything as yet because being a pinkie stock: (i) I couldn't find any info about the OS (the volume is a bit too high for my confort), (ii) if they had any income as yet, (iii) how much debt do they have, (iv) I have to understand why the price dropped that much in a relatively short period of time, and (v) why despite the many PR's the price continues to go down.
Mike