Auscrete Corporation (ASCK)

[piker86]

They are certainly giving that impression. Their 10-Q gives the details of how they make it work with the funding they have, something like 1.2 to 1.5 million over about a year from RB Capitol, they have about 500K allocated to getting their Goldendale plant built. But the last we heard on the plant was plans went out for bid in April. Since then they have gone dark on any updates what so ever. Which is what a company would do if they got no bids or the only bids were way over that 500k. That would not be surprising to me given the complexity of that heavy weight overhead crane they described needing for the plant. The plant may cost them over a million dollars, and they don't have financing for that. If that is the kind of bids they got then they would avoid giving any updates while they try to get more financing.

I have told Lee that even news that they got some responses from construction companies within budget for their request for a bid would be significant news. But I have still gotten no response on that subject.

Their explanation in the 10-Q for not starting the plant was that their funding was delayed to either late August or early September. Now that early September has passed and they have said Jack on the subject, the red flags are popping up. They sure better have something to say this week on the subject or the fire alarms will be going off.