Seriously lol, Mike Sims invested equity in PCTL. Do you think a person of his caliber would do that unless he believed in the current management and products?
What knowledge of Hydrolte and Catholyte does he have? I would think a CEO should have some knowledge of a companies products besides the other qualities a CEO should have to run a company.
I hear all kinds of bad things about Gary Grieco. Let's not forget
Gary Grieco:
Brought the Annihilyzer to market
Has the exclusive rights for any application of crystalized HOCL and medical application of Chlorine Dioxide.
Developed a patent-pending technology with NanoGas for the O&G industry
Brought in Art Abraham's as CFO who has done an excellent job so far.
Got rid of dead weight and those that had no clue of what they were doing.
Had the foresight to switch from Annihilyzer production to fluid production as the pandemic unfolded and hospitals went into lockdown.
When he pandemic started to wind down and fluid sales to hospitals started to decrease had the foresight to make inroads back into Annihilyzer leases. I believe the market has seen PR's and or Tweets showing full systems and carts going out the door.
I hear all the time signed O&G contracts.
The "testing" was done to prove proof of concept of Nano-Catholyte. Field testing needed to be done to get the right mixture of Caholyte and Nanogas right. You just don't throw it downhole and wait. Different concentrations of Catholyte, different temperatures, and different gasses being turned into nanobubbles needed to be done. What did they find? They were able to recover 18% oil at a far less cost than what's currently out there for EOR. No infrastructure facilities are needed as with steam and C02. They brought almost dead wells back to life in Grassy Creek. So now what oh let's go market it to every oil company in the country. SORRY, it doesn't work like that. Each of the formations in the different basins goes through field testing. Can't go to one state and say this worked in Grassy Creek it should work on OK, TX, WU, CO. Now they have results for Grassy Creek which just came out a few weeks ago sheesh. I hope people don't think ok we have the results 1 week later they signed up a slew of oil producers.
Now field testing is being done in OK and should have results later in the month. I assume then it's onto another state. Meanwhile, I'm sure marketing will start in the states that already have gone through field testing.
Anyone that can't see it takes time should do their own DD.
The outlook is substantial though. Lots of oil is still going to be used. Lots of mom-and-pop stripper wells out there that when word gets out others will want in on what Nano-Catholyte has to offer. This doesn't even include Nano-Hydrolyte.
Someone thinks a new CEO can come in learn about the above and make changes in a few weeks for months is preposterous.
Those that believe in the long term for PCTL understand that and then I don't have to read some bullshit as I have.
