History has a way of repeating itself. As you know I have said that they have no real specialty skills? And the results are that every project they have been involved with have not produced the numbers as outlined by management. The stock is in the toilet, so if you have some risk money it might be the same as going to Vegas. History says you will lose your money, but I just saw the other day that someone hit a million dollars on a slot. Are you feeling LUCK????
But in terms of investing in a proven management team with a successful track record, then this is NOT the company to invest in. They have difficulty "Walking the Talk". Their chosen market space is not one that has shown positive returns. The space is just not ready for prime time. Energy is cheap, AD is EXPENSIVE, hard to operate and there are other alternatives to managing organic wastes that are cheaper both in terms of CAPEX AND OPEX.
Building new facilities has not proven to a good investment for the owners. Everyone else makes money, but almost ALL of them when done under perform. HIGH debt service, HIGH OPEX, LOW UPTIME, Feedstock issues. IT IS A TOUGH BUSINESS unless the company has some "secret sauce". I personally do not believe BLSP has this.
So you understand the risk and appear to be a smart investor. I have been wrong before (not on this one) so this is just the humble opinion of someone who works in this market segment every day.
Roll the dice if you like gambling, if you invest in smart seasoned management with a history of success then you might want to pass on this one.
I wonder if they still have their corporate airplane????
