I know many of the shareholders are waiting on some kind of news from BLSP, either a company PR or SEC filing. There has been much talk about the number of projects they have under construction and or complete. People have talked about an Israeli project and a Holland project under construction. I can find no information that these have started. The information we have shows 2 completed US projects, both of which BLSP have been diluted to less that 30% ownership. They also own several very small projects in Italy which based on the last 3Q generate a million dollars in revenue per year.
The BLSP financial model has failed badly. The US facilities were way over budget and almost double the time to complete them as they estimated. Both have been financial and technical disasters. The Italian plants revenues do not cover the operating costs, so BAD purchase. In summary every project they have completed has failed financially. They over promised and under delivered, pretty consistent with newbies in the business. Leaders who are smart in one field often get slaughtered when they try to bridge to a completely different business and technical model. As the facts show BLSP leadership has some smart guys, but not in the AD business. They were slaughtered!
How do they stay alive? Only with a LOT of new MONEY. If someone shows up with millions, they will make sure it is spent on only new projects, not to support the bad decisions management made in the past.
New MONEY will slaughter the existing shareholder and again based on BLSP management history they will not care.
Take a look back, a lot of shareholder money has been consumed with very little to show for it.