Biomass Secure Power Inc. (BMSPF)

[Waves70]

OK, an update with possible positive news. I did not see an updated filing with Sedar in Canada for Q4 of 2023, and the company still has a Cease Trade order in Canada. It seemed like silence and bad news. However I just found an updated quarterly report with MD&A from November 2023 on the OTC website. In it the company explains that they did not file on time in Canada and will do so when they receive pending funding. They have done this before and filed later, so it is not that worrying. Furthermore, they mention that they are considering relocating the company to the US since they are not active in Canada. That sounds like a positive development. It seems they feel that they have solid enough interest from Japan to proceed with building the plant in LA, if they secure funding. They mention applying for USDA funding for this plant, which they say could be imminent. However, it could also not be. The report mentions expecting news from USDA by the end of October 2023. Any more update about that will probably take time to come out.
I am sure the Laramie plant plan is not front and center, until they receive bigger funding actually to break ground in LA for the main plant. All in all, it seems BMSP is on track (or now we know) with developments to the story. It all seems fine and clear to me. They are pretty transparent in the reports and pretty consistent with producing them, now that I found the latest one not filed in Canada. It seems that they have crossed the first hurdle of securing some interest or demand, in order to justify proceeding with building the main plant. Now they are where one would expect, exploring avenues for financing to be able to break ground. Still no guarantees, but things look OK and like they are developing.