A handful of interesting snippits from the 10Q, followed by the feeling it gave me after reading them.
"The Company adopted at management’s discretion, the most conservative recognition of revenue based on the most astringent guidelines of the SEC in terms of recognition of revenue."
(so the numbers are conservative!)
"We do not undertake and specifically decline any obligation to update any forward-looking statements."
(no hype, only results!)
"The 20MT processor is being meticulously assembled and each assembly process is being photographed and logged so that the processes and procedures for the final operating unit can modeled, independently tested, and the put into production quickly where plastic discards are readily available. Management believes, based upon prototype testing to date, that each large processor will process 20 metric tons of plastic in a continuous operation."
(detail-oriented, thinking ahead about setup & maintenance)
"the Company acquired $9,997,134 of media credits in print and radio. Management intends to use the media credits to advertise information about its PakIt products"
(totally new market here with consumers!)
"Mr. Bordynuik designed hardware and software to recover planetary and sensor data from old magnetic media for various government and institutional archives for more than 20 years, amassing what is believed by management to be the world's largest solution and algorithm archive. We have access to terabytes of this normalized earth sensor data (heat budget, solar radiation, gravitational, magnetic, and vibration information), algorithms, massive research archive, and other related information."
(sounds like a gold-mine!)
"Certain municipalities and companies have agreed to provide raw materials to the Company at no cost, or in some instances, the
Company is compensated to accept the raw materials."
(getting paid to make money is always good)
"This group is assembling a 10MT processor for use on land and manufactured a smaller mobile version for use on a flatbed trailer. John Bordynuik is actively working with ship engineers to develop an optimized high-volume P2O processor to be installed in oil tankers."
*grin*
"Javaco will operate and manage the Company’s Plastic2Oil sites in Mexico."
(looking beyond the 25 JVs !)
"The Company’s Chief Executive Officer, John Bordynuik and the Company have entered into a Pledge Escrow Agreement (the “Pledge”), whereby Mr. Bordynuik has pledged 10,000,000 shares of his holdings in the Company’s common stock and the Company has pledged 100% of the issued and outstanding membership units of Pak-It, LLC as collateral for the Notes."
(putting his money where his mouth is ... this one's for you RainMaker)
"We have been in discussion with many potential clients and they are unable to read their old backup tapes with legacy original hardware."
(zardiw vindicated?)
"The combination of Pak-It and the Company will assure that the Company will continue to focus on strong internal growth. For instance, the Company has relationships with buyers from NASA and other government agencies that will facilitate Pak-It products being tested and hopefully purchased by these large institutions."
(how many square feet of office & lab space does NASA have??)
"our tape business sales are expected to grow as we continue to invest in equipment and personnel"
(sounds like the issue isn't shortage of tapes....)
"ITEM 1A. RISK FACTORS: None"
(no comment)
Stu
