Intrepid Tech & Resources (fka ITRP)

[Jim_WI]

I'm not sure this is a "nah, let's do something else"

I don't really have a big problem with the "shared" business model and discussed it with Steve a long time ago. Obviously owning the plants and the produced gas would be the best option, but it's like the light bulb just went on in the BOD's heads. "Dang.. these things are expensive!!?!!"

This move shouldn't be much of a surprise to anyone, especially the BOD. I just wish they would have taken a harder look at realisy about 300MM shares ago.

A partnership with the dairies, sharing the capitalization and the production would allow them to get a bunch of plants going in short order. Yes they would concede the production revenues, but twenty nickels is still as good as a dollar.

The technology is good but one plant every year and a half isn't going to cut it. I like the option when weighted against the massive dilution that would be required to build the next ten plants themselves. Service revenues and a piece of the production revenues moving forward sounds like a rational choice given their current financial situation. Once there's a little change in the pocket they can go back to building their own plants.

The market doesn't seem to know what to think with only 15K shares sold.