Simply,
I think you make a lot of great points and outline the risks involved with this company...which are definitely significant. HOWEVER,
I think your wrong in several places (JMO)
First, we don't know that Albania is a failure. Period. We know it is taking longer than expected and has run in to some difficulites getting up and running. That's it. Anything else is just speculation and rumors.
Secondly, you ask if the debt financing is coming? I think it is very apparent that management is working hard to secure this. They know the stakes here. You pose that question like it is a 50/50 chance of happening...I don't think that its like that at all. IMO, its a question of when? Ideally it would be nice to have something cusion the impact of the additional shares, but having said that, we do not know if the impact of the unresistricted shares is even going to have an effect on sp. Whoever snatched up the pp could be a long term holder just like the rest of us....we just don't know.
You list several times that we are just a company that has nothing but an unproven technology and a contract in Iraq, but you miss the part where we have a proven and experienced management team, several other JV's that have been moved to the backburner, as well as some exteremely significant contacts within the middle east. I don't think that can be understated...especially when looking at the geopolitcal risks that you outlined. Though not midigated, I think those facts provide a little more security for me.
Bottom line, there is a difference between a higher risk/reward investment and a roulette table. Granted we need some things to go our way- and some of that involves a little luck - but I think that is far different than throwing money on red or black.
