Green Emerald, without beating a dead horse, there are numerable reasons various interests capable of scaling the technology haven’t been approached.
1) The company was run for over a decade by incompetent management;
2) For whatever reasons, members of the BOD didn’t recognize the incapacity of management to effectively lead the company, or worse, were wittingly complicit in supporting incompetency while lining their pockets with stock awards.
3) Should an entity like the one you mentioned be contacted, what would management have said? There was no business plan and despite having access to millions in capital (the Mammoth facility), management did little to advance the commercial aspect of the business.
4) There was no/isn’t any robust application protocol (Shannon has spent his time showing the technology could kill any variety of pathogens, but didn’t have the experience to translate this into real world applications, or, didn’t recognize the need to do so; i.e. there have been no substantive trials to gain information that would lead to commercial sales – the same information any philanthropic entity would want to see).
5) Within management and the BOD, there was a lack of understanding for regulatory processes necessary for commercialization. With the support of the largest shareholder, management went to the FIME trade show (in 2012?? or there about) and again a few years later to a Las Vegas trade show. What regulatory approvals or even thoughts of application had been made leading to that time? Management went to trade shows because that’s how the largest shareholder (FL group) promoted his popcorn and candy business.
These and other reasons, are, in my opinion, the same things that potential buyers/users of the technology can see and conclude that either the technology is unavailable due to regulatory issues or the company represents too much commercial risk as it lacked capacity and scale. While current management is addressing these issues, they remain. Current management is about doing what should have been done 5-6 years ago. The process will take time and will cost shareholders incremental dilution and value consideration as the patent clocks continue to wind.
For a few years, I have advocated for the company to align with a substantial partner capable of addressing the myriad issues and bring the life saving technology to market. Yet, the appearance is that the current management wants to go it alone. What is the goal? They can go it alone to get trials done and finish up FDA work, then what? $10mm in funding isn’t going to allow for major market penetration? So again, what is the goal?
In Dodd’s December 4, 2017 note to shareholders, he disclosed an awareness of the major matters that need to be addressed. His next substantive communication should be a detailed disclosure of the commercial plan, with performance benchmarks and timing, and as best he is able, provide shareholders with information about the company’s value proposition to suitors once his plan is accomplished. If one doesn’t know what the goal is, one can’t reasonably allocate resources.
