No more phone calls or emails. Will post here for everyone. No secrests. I will even share this with Han Solo.
After speaking to Davenport for over an hour today I realized he may have earlier tried painting a prettier picture with Sho-Nuff on SYMW then he had a right to.
Remember back in November/December 2009 when Sho-Nuff mentioned that John D. said if EVERYTHING came together that this stock could easily go up 10x and that patient investors would be well rewarded. John D. at that time was trying to lead us to believe that some grand meat and potato PR was on the horizon and probably before the end of 2009.
Well here is the story. Sympowerco did sign a non disclosure agreement a matter of a day or two after the Hoss Motor Sports/HHHI deal fell through. JD said that they got out JUST in time with HOSS Motor Sports and HHHI. They originally wanted to hook up with Hoss Motor Sports/HHHI to have a better avenue for revenue to pay bills etc., but that they were really not on the same page. SYMW was leery of the HOSS Motor HHHI deal. They got out just in time and they are glad they did. Davenport made reference to what SSEV has done since they (Humphries) took over SSEV and that being nothing. A day or two later JD made it sound like they were in an NDA arrangement (non disclosure type that usually lasts for 5 years) with two prospects and that they were trying to decide what avenue to take. They decided no on one and then no on the other. So currently there is still the non disclosure agreement but no potential for partnership or buyout at this time. NDA's commonly protects one rights with companies of the same technology and infringements on those technologies. They can in many cases end up on buyouts or partnerships.
I asked Davenport about all the selling they were doing and why they were selling shares at .0004 and not higher, especially when they just make announcements. JD said that they have to pay their bills (with shares) when they are asked to. No choice.
I asked if they were moving toward production. Davenport said yes, and trying to move quickly. Davenport also re-iterated that he WAS NOT FOR A REVERSE stock split and that he would avoid it at all costs. He would try to find avenues so he did not have to further dilute the stock. Thus far 12,000,000,000 shares are out there. Davenport owns 5 or 6 billion. The rest are preferred (I believe) and common shares. That leaves a balance on the cap of 20,000,000,000 of 8,000,000,000.
Davenport said that there are meat and potatoe PR's coming that have nothing to do with production but saying more precisely where they are at in all of this. Then it would be more evident as to the enormous potential of this stock.
Davenport has a goal of July of 2010 for a finished prototype. An actual product.
Production still is 3 years away (at least). Davenport said he already emphasized that earlier to share holders.
I asked well if they need to continue to pay bills and everything gets more diluted, won't the stock price go down. Davenport said not necessarily. He believes that the project he is working on (which he greatly enjoys) has enormous upside. They have all of their plans written down and know EXACTLY which avenue to take. The technology is there, and the largest obstacle now is finding a way to separate the acid in the fuel cell and prevent it from eating up other elements of the fuel cell.
Sympowerco has two workers. Davenport and one other. They are planning on adding contractors (4 or 5 of them) some where down the road and have several resumes on their table. Davenport does not want to pay them and at the same time doesn't want to issue more shares. So right now he is undecided about where they are going to go at this time.
The largest thing here that I am skeptical of is the big hype toward the end of the year and how Davenport was saying the patient investor would be well rewarded. That time has come and gone.
Personally, I think we have all been had. I am not trying to say anyone here but want you to know a little more about what is going on.
Carlton University still has graduate students working on their masters etc. and writing up their thesis or whatever on something they have discovered on the fuel cell that is unique and new. These are very intelligent people. SYMW has the rights to anything that Carlton produces but they have no restraints as everything is in house and they can more or less move as fast as they want to toward production without asking permission. Carlton more or less is a bonus.
This is my take on the whole thing.
I am upset about all the hype at the end of 2009 and a promise to the patient investor that personally I do not think will come to fruition.
JMO.
