UPDATE FROM THE CEO - Robert McAllister emailed me back about the hold up with the patents and basically said that the patents are with the lawyers, and there’s nothing they can do to speed things up. He said it’s a respected law firm which means they have several other clients all wanting similar things, and patent approval takes time. He’s spoken to several other CEOs who are all experiencing similar delays, and that this is simply an unfortunate but very real effect of COVID slowing down the speed of business and things getting done. He said they filed the S-1, but beyond that there’s no plan to involve investor relations right now, because there is nothing new to report, so it would be ineffective.
While it wasn’t necessarily what I wanted to hear, I did appreciate his candid reponse. It reassured me of his character and reaffirmed my faith in ENRT for several reasons. He’s being honest about the delays, and the lack of patent news isn’t a shady attempt to hide bad news from investors, there’s simply nothing to report at the moment. But they are still eager to get the patent approved because they DO still believe they have some very valuable new technology. So I guess impatient investors or day talradera may continue to drive the price lower in the meantime, but if you truly have faith in the company and the potential patents, there’s nothing bad happening that should make you want or need to sell. If you can afford to buy more, this might be a great time to take advantage of the brutal sell off that’s occurred. I’m still long. GLTA.
