Penny Pirate is cooking fan fiction again. Nothing in Q3 shows rGO was functional, proven, demonstrated, or even installed. Zero. The company’s own filing torpedoes every word he just typed.
Here’s what AABB actually reported:
1. Q3 shows no operating pilot
The Mining Recovery Technology System IP magically appears on the balance sheet at 23.5M as an intangible asset, bought with stock, not validated with production. It is a purchased “IP” line item, not a functioning system.
2. Q3 shows no rGO revenue
The revenue sections are identical to prior periods. Mineral production only. No digital, no token fees, and no rGO anything. Not a penny of rGO output.
3. Q3 explicitly shows there is no rGO pilot generating results
The cost lines, production lines, and retained mineral lines are unchanged from before the so called nanotech acquisition. If rGO was operational, production efficiency would change. It didn’t.
4. Q3 does NOT list any “pilot testing costs”
There is no capex line, no R&D line, no engineering line tied to a pilot. It simply doesn’t exist.
5. Q3 shows the plant itself was impaired, flooded, damaged, AND they fired the staff
That alone destroys Penny Pirate’s fantasy that top tier miners have seen “process results.” You can’t demo a system that isn’t installed in a plant that wasn’t functioning and had no staff.
6. Q3 proves the “licensing” pitch is marketing only
AABB books the rGO technology as an intangible asset and immediately after, pays for it with dilution. There is no operational validation disclosed and no evidence of any independent verification for licensing purposes. None.
So the entire “common sense says it must already work” rant from Penny Pirate is pure cope. The only place rGO is “working” is in their imagination and in paid PR.
If this tech was real and proven, they’d show:
• sample results
• pilot throughput
• pilot recovery efficiency
• operating costs
• metallurgical reports
• independent verification
• revenue impact
They showed exactly zero of those.
Penny Pirate is making up an alternate universe because the real one is too embarrassing for them.
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